NEPAL RASTRA BANK Forex : NRB Foreign Exchange Rate in Nepal

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NEPAL RASTRA BANK Forex : NRB Foreign Exchange Rate in Nepal

NEPAL RASTRA BANK Forex or Nepal Rastra Bank Foreign Exchange Rate, here is posted information about. Nepal Rastra Bank has deserved the authority of foreign exchange rates of Nepali Currency. Nepal Rastra Bank is the central bank of Nepal. Nepal Rastra Bank is also term as NRB, Nepal. So, Nepal Rastra Bank (NRB) is only one authorized organization who has the power of foreign exchange rates of Nepali currency in Nepal.

This is modern and scientific age. Each and every aspect including banking sector is heavily affected by science and technology. To win the competition, banks have been rapidly expanding the menu of financial services they offer to their customers. Bank customers are becoming more and more knowledgeable and demanding more facilities. Latest technology is introduced in the banking sectors. It has also increased bank costs and posed greater risk of bank failure. The new services have had a positive effect in the banking sector too. The revenue from non-interest bank services and facilities are called fee income. So, banks under Nepal Rastra Bank, the central bank of Nepal, also provides the service of Forex, foreign currency exchange rate service.

We can say that bank is an institution, which accepts deposits from the public and in turn, advance loan to business and personal customers. It is the financial institution, which provides wide range of banking services such as saving, credit payment, remittance etc. Hence, a bank may be called the financial supermarket providing all kinds of monitory service, which is necessary for the industrialization and economic development of a country. A sound banking system is important for smooth development of banking system. It can play a key role in the economy.

Foreign Exchange Rates by Nepal Rastra BankNepal Bank Ltd. is the first modern bank established in 1937 A.D. Rastriya Banijya Bank was established in 1865 A.D. as the second commercial bank of Nepal. Nepal Rastra Bank (NRB ) was established in 1956 A.D. as the central bank of Nepal. Industrial Development Bank was established in 1957 A.D. Agricultural development Bank was established in 1968 A.D. There are 31 ‘A’ level commercial bank, 79 ‘B’ level development banks, 79 ‘C’ level financial companies, 18 ‘D’ level micro credit (Grameen) development banks and 16 saving and credit co-cooperatives are established in Nepal under Nepal Rastra Bank. These all commercial, development, and financial institutions have played significant roles in exchanging foreign exchange rate in various ways.

 Banks accept the deposits from unproductive sectors and channelize them in the productive sectors. This is the basic function of banks. By this, they earn profit as interest by advancing the fund as loan at the interest rate higher than its cost. As the same, banks generate capital for economic development of a country. In the past, banks used to be just an intermediary between the saving and users of fund. They used to collect deposit from savers and provide loans to the businesspersons and others. Now, the services provided by bank have been expanded to many areas as human wants and the development of technology.

General commercial banks offer the following services to customers:

  1. Accepting Deposit
  2. Advancing of Loans
  3. Discounting of Bill of Exchange
  4. Payment of Cheque
  5. Remittance
  6. Collection and Payment of Credit Instruments
  7. Exchange Foreign Currencies
  8. Consultancy
  9. Bank Guarantee
  10. Agency Functions
  11. Other

Among these all services of bank, foreign exchange rate is also one of the service provided by the bank. Most of the banks deal with foreign currencies. As the requirement of customers of banks, all the banks exchange foreign currencies (forex) with local currencies according rules and regulation of Nepal rastra bank, which is essential to settle down the dues in the international trade.

All Exchange Rates are fixed by Nepal Rastra Bank. Today’s NRB Forex or Foreign Exchange Rates of Nepali Currency are as follows:

Nepal Rastra Bank Forex or Nepal Rastra Bank Foreign Exchange Rate are listed here in below.

NEPAL RASTRA BANK Forex

We have presented here central bank of Nepal, Nepal Rastra Bank’s official release of Daily Nepali Currency Rate below :

Foreign Exchange Rate of Nepali Currency

Foreign Exchange Rates – Nepal Rastra Bank

Today’s Foreign Exchange Rates of Nepali Currency. All Exchange Rates are fixed by Nepal Rastra Bank.
The form above automatically shows you the current day’s Foreign Exchange rates of Nepali Currency.

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

NEPAL RASTRA BANK Forex : NRB Foreign Exchange Rate in Nepal

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