Jun 24, 2016- With the United Kingdom opting out from the European Union (EU), Nepali rupee has weakened by Rs 1.24 against the US dollar on Friday. Gold price jumped over five percent in the domestic market.
Nepal Rastra Bank (NRB) had fixed dollar exchange rate at Rs 107.96 a dollar for Friday, however, dollar is being traded over Rs 109 in Nepali commercial banks after the UK referendum results.
The fall of the rupee against the dollar is mainly due to devaluation of the Indian currency, with which the domestic currency is pegged. Indian rupee has plunged 96 paisa against the US dollar in the early morning trade following the UK referendum results.
Bankers say the direct impact of the UK referendum has particularly hit foreign exchange rates. "With Indian currency going down, there will be direct impact on foreign exchange rates," said Sashin Joshi, CEO of Nabil Bank.
Nepal Rastra Bank (NRB) had fixed dollar exchange rate at Rs 107.96 a dollar for Friday, however, dollar is being traded over Rs 109 in Nepali commercial banks after the UK referendum results.
The fall of the rupee against the dollar is mainly due to devaluation of the Indian currency, with which the domestic currency is pegged. Indian rupee has plunged 96 paisa against the US dollar in the early morning trade following the UK referendum results.
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