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The Nepali rupee has gained by Rs 6 against the US dollar over the last three months. The appreciation of the rupee is in line with the strengthening of the Indian currency (IC), with which it is pegged.
The Nepal Rastra Bank (NRB) has fixed the exchange rate at Rs 93.94 per dollar for Saturday. The rate was at Rs 99.83 per dollar on February 23. This means the US dollar has plunged by Rs 5.89 against the rupee in the last three months.
The dollar had risen to as high as Rs 108.90 on August 29, 2013, before slowing down. Ever since the election fever gripped India, with different surveys suggesting victory for Bharatiya Janata Party (BJP), the IC started to gain against the dollar.
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