Dollar low of Rs 94.37

Kathmandu, May 17. The Nepali rupee rode to an 11-month high against the US dollar on the back of a strong Indian currency following the optimistic Indian election results.

Nepal Rastra Bank fixed the reference exchange rate at Rs 94.37 as selling rate for Saturday and Sunday, based on today’s Forex trading of commercial banks. Likewise, the buying rate has been fixed at Rs 93.77.

The rates were this low back on June 20, 2013, when NRB fixed a rate of Rs 94.25. The current rate is 15.5 per cent less than the highest point that the Nepali rupee has ever reached — Rs 109.03 — on September 04, 2013.