MUKUNDA NEUPANE

Nepal Rastra Bank (NRB), the Central Bank of Nepal, was established in 1956 under the Nepal Rastra Bank Act, 1955, to discharge the central banking responsibilities including guiding the development of the embryonic domestic financial sector. Since inception, there has been a significant growth in both the number and the activities of the domestic financial institutions.

To reflect this dynamic environment, the functions and objectives of the Bank have been recast by the new NRB Act of 2002, the preamble of which lays down the primary functions of the Bank as: to formulate necessary monetary and foreign exchange policies to maintain the stability in price and consolidate the balance of payments for sustainable development of the economy of Nepal;

 

Exchange Rate for 02 March 2018

Exchange Rates Fixed by Nepal Rastra Bank Currency Unit Buying/Rs. Selling/Rs.   Indian Rupee 100 160.00 160.15

Open Market Exchange Rates (For the purpose of Nepal Rastra Bank) Currency Unit Buying/Rs. Selling/Rs.   U.S. Dollar 1 103.98 104.58   European Euro 1 126.70 127.43   UK Pound Sterling 1 142.87 143.70  Swiss Franc 1 109.93 110.57   Australian Dollar 1 80.38 80.85  Canadian Dollar 1 80.92 81.39   Singapore Dollar 1 78.38 78.83  Japanese Yen 10 9.74 9.80  Chinese Yuan 1 16.38 16.47   Saudi Arabian Riyal 1 27.73 27.89   Qatari Riyal 1 28.56 28.72   Thai Baht 1 3.29 3.31   UAE Dirham 1 28.31 28.47   Malaysian Ringgit 1 26.47 26.62   South Korean Won 100 9.57 9.63  Swedish Kroner 1 12.54 12.61   Danish Kroner 1 17.01 17.11   Hong Kong Dollar 1 13.28 13.36   Kuwaity Dinar 1 346.08 348.08   Bahrain Dinar 1 275.81 277.40

Note: Under the present system the open market exchange rates quoted by different banks may differ.

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