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US dollar price establishes new record

Kathmandu, 5 October: The Nepal Rastra Bank has set 118.03 rupees for buying one unit of the US dollar. This is the highest ever price in the history of the country’s foreign exchange rate.

Accordingly, for one unit of Euro, one should pay 135.77 rupees and for one unit of Sterling Pound, one should pay 153.28 rupees.

As Nepal’s economy is based on imports, price of the imported commodities will become expensive.

Likewise, due to continued hike of the petro-products in the international market, the price of the petro-products is going to be increased in local market.

If the increasing trend of dollar price and petro-products will continue, Nepal is obvious to face a jumping rate of inflation and the monetary market is going to be affected.

People’s News Monitoring Service

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