The Nepalese rupee has been steadily weakening against the US dollar in recent weeks, reaching its highest level ever on Tuesday.
We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
The US dollar has reached its highest ever point against the Nepali rupee. The National Bank has set the exchange rate of 150.67 rupees (selling rate) for Tuesday. This is the highest ever. The Nepali rupee has been continuously weakening against the US dollar in recent weeks. In the same vein, it reached its highest ever point on Tuesday.
For Wednesday, the National Bank has set the selling rate of 150.49 rupees for one US dollar. Earlier, on March 10, 2026, such an exchange rate had reached 148.03 rupees. Since then, the dollar has been around 147 for a few days. However, it has been continuously rising for a few days and has set a new record.
Before the Iran war, the US central bank, the Federal Reserve (Fed), had indicated that it would raise interest rates. Since inflation there was under control, the Fed was thinking of raising interest rates. However, after the Iran war started, a different situation arose. And, inflation started rising in the US. As the risk of inflation rising further, the Fed meeting held last Wednesday (March 18, 2026) decided not to raise interest rates.
With this decision by the Fed, the risk of raising interest rates in the US for the next one to one and a half months has been averted. Before the war, there were speculations that the Fed would raise interest rates. After the interest rates were not increased, the US dollar began to strengthen further. As the dollar strengthened in the world market, the Indian rupee weakened compared to it. As the Indian rupee weakened, the Nehru also automatically became weak (depreciated) due to the fixed exchange rate.
According to the National Bank, the Nepali rupee has depreciated by 5.4 percent against the US dollar as of mid-July 2082. The Nepali rupee had depreciated by 3.8 percent during the same period last year. Accordingly, the purchasing exchange rate of one US dollar in 2082 reached 144.83 rupees. In mid-July 2082, the exchange rate was 137 rupees.
The fixed exchange rate between the Nepali rupee and the Indian rupee and a large part of Nepal's total foreign trade is dependent on India, so the Nepali rupee is also directly affected when the exchange rate fluctuates. The same is happening now. As of 8 pm (Nepali time) on Tuesday, the exchange rate of one US dollar has reached 93.83 Indian rupees. The Indian rupee has also been depreciating against the dollar for the past few weeks.
Profits and losses
When the dollar strengthens against the Nepali rupee, Nepal also benefits in some areas along with losses. In the current situation, the biggest benefit falls on remittance inflow. When the dollar strengthens, on the one hand, remittance inflow (amounts entering the country) increases, and on the other hand, the number of people sending remittances also increases. Nepalis living abroad send large amounts of remittances as they benefit when the dollar appreciates.
Similarly, when the dollar strengthens, it also has a positive effect on foreign direct investment (FDI). Thus, the improvement in remittances and FDI increases the country's foreign exchange reserves. This increases the country's ability to purchase goods and services and pay its liabilities. Similarly, experts say that Nepal can also benefit from tourism and export trade.
When the dollar rises, the highest foreign debt repayments and losses occur in payments for imports of goods and services. As imports are increasing, the liability to pay for them is also increasing. When the neru weakens, the liability to pay for foreign debt increases. A large amount must also be paid for the principal and interest payments of loans taken from abroad.
The cost of those who go abroad for medical treatment, study, and travel is expensive. The increase in the exchange rate of foreign currencies including the US dollar has started to put an additional burden on the public debt that Nepal has to pay. The Public Debt Management Office has stated that the increase in the exchange rate of foreign currencies including the US dollar as of mid-February has added an additional burden of Rs 97.98 billion to the public debt that Nepal has to pay.
The debt taken by Nepal must be paid in foreign currencies (mainly in US dollars). The increase in the exchange rate of foreign currencies including the US dollar has added an additional burden on the public debt that Nepal has to pay, said Gopi Prasad Koirala, head of the Public Debt Management Office. "We have been calculating the foreign currencies of all countries by converting them into US dollars. Even if the exchange rate of foreign currencies other than the dollar increases, we have to pay more amount accordingly," he said, "In case of a decrease, Nepal benefits."
