Exchange Rate

Exchange rates can be quoted directly or indirectly. A direct quote gives the home-currency price of one unit of foreign currency, for example NPR per US dollar, which is how rates are quoted in Nepal. An indirect quote gives foreign currency per unit of home currency.

Banks quote a buying rate (at which they buy foreign currency from customers) and a selling rate (at which they sell), with the selling rate higher; the difference is the spread. Rates for cash notes and for transfers (TT) may differ.

Exchange rate regimes:

• Fixed or pegged: the central bank keeps the rate at a set level against another currency.
• Floating: market supply and demand determine the rate.
• Managed float: market-determined with central bank intervention.

A fall in the home currency's value under a floating system is depreciation; under a fixed system, an official reduction is devaluation. Depreciation makes exports cheaper and imports dearer.

In Nepal, the rupee is pegged to the Indian rupee (at NPR 1.60 per INR), and its rates against convertible currencies such as the US dollar move in line with the INR's market rates. NRB publishes daily reference buying and selling rates; banks set their own rates around them.

The Nepali rupee is pegged to the Indian rupee at NPR 1.60 = INR 1; NRB publishes daily reference rates for other currencies. Under NRB's Foreign Exchange Unified Circular 2082, the Indian rupee rate is set by NRB, while banks set their own buying and selling rates for convertible currencies and publish them.

विनिमय दर प्रत्यक्ष वा अप्रत्यक्ष रूपमा उद्धृत गरिन्छ। प्रत्यक्ष उद्धरण मा एक एकाइ विदेशी मुद्राको स्वदेशी मुद्रामा मूल्य (जस्तै प्रति अमेरिकी डलर नेपाली रुपैयाँ) दिइन्छ; नेपालमा यही तरिका प्रयोग हुन्छ।

बैंकले खरिद दर र बिक्री दर तोक्छन्; बिक्री दर बढी हुन्छ र फरक स्प्रेड हो।

विनिमय दर प्रणाली: स्थिर/पेग्ड, लचिलो (floating) र व्यवस्थित लचिलो। लचिलो प्रणालीमा स्वदेशी मुद्राको मूल्य घट्नु अवमूल्यन (depreciation) र स्थिर प्रणालीमा आधिकारिक रूपमा घटाउनु अवमूल्यन (devaluation) हो।

नेपाली रुपैयाँ भारतीय रुपैयाँसँग १ भारू = १.६० नेरू मा स्थिर छ र अमेरिकी डलर जस्ता परिवर्त्य मुद्रासँगको दर भारतीय रुपैयाँको बजार दरअनुसार चल्छ। नेपाल राष्ट्र बैंकले दैनिक सन्दर्भ दर प्रकाशित गर्छ।

नेपाली रुपैयाँ भारतीय रुपैयाँसँग १ भारू = १.६० नेरू मा स्थिर छ; नेपाल राष्ट्र बैंकले अन्य मुद्राको दैनिक सन्दर्भ दर प्रकाशित गर्छ। विदेशी विनिमय एकीकृत परिपत्र–२०८२ अनुसार भारतीय रुपैयाँको विनिमय दर नेपाल राष्ट्र बैंकले तोक्छ भने परिवर्त्य विदेशी मुद्राको खरिद बिक्री दर बैंकहरूले आफैँ तोकी प्रकाशन गर्छन्।