KATHMANDU: The US dollar has reached a new high against the Nepali rupee.
Nepal Rastra Bank set the dollar’s buying rate at Rs 145.35 and the selling rate at Rs 145.95 on Wednesday. This is the highest level recorded so far.
The rise has increased vehicle import costs. Even without changes in global vehicle prices, a stronger dollar makes imports more expensive.
Most cars imported into Nepal are priced between USD 15,000 and USD 30,000. Over the past six months, the higher exchange rate has added around Rs 150,000 to Rs 300,000 to the cost of a single vehicle.
With costs rising, dealers are likely to adjust vehicle prices in the domestic market.
