Rupee's fall continues

REPUBLICA 
KATHMANDU, Oct 29: The sustained depreciation of Nepali rupee against the greenback continued for seven straight days as it recorded a fresh slide of 24 paisa on the rate fixed for Friday.

Accordingly, Nepal Rastra Bank, the central bank of the country, has fixed the selling exchange rate of partially convertible rupee at 76.13 per US dollar for Friday while the exchange rate was fixed at Rs 75.89 per US dollar on Thursday.

Similarly, the buying rate of a US dollar has been fixed at Rs 75.53 for Friday whereas it was Rs 75.29 per dollar on Thursday.

Since Nepali rupee maintain a fixed exchange rate with Indian currency, any fluctuations seen in the Indian currency is directly reflected in the exchange rates of Nepali rupee with other convertible currencies.

According to international news agencies, the Indian rupee dropped toward one-month low on Thursday mainly due to weak global shares that pushed down regional equity markets and other regional units.