Nepal Rastra Bank (NRB) Forex Rates: Buying vs Selling Spreads & INR Peg
The Foreign Exchange Management Department of Nepal Rastra Bank (NRB) publishes benchmark foreign exchange rates every morning, governing currency conversions across commercial banks, money exchange counters, and international remittance agencies.
- The Nepalese Rupee (NPR) is pegged to the Indian Rupee (INR) at a fixed statutory rate of 100 INR = 160 NPR.
- Banks purchase foreign currency from customers at the Buying Rate and sell foreign currency at the higher Selling Rate.
- The spread between buying and selling rates covers institutional exchange operational overhead.
- International money transfers (SWIFT, Western Union) reference daily NRB benchmark rates with small merchant spreads.
Understanding the Buying vs. Selling Rate Spread
Commercial transactions depend on whether you are selling foreign currency to a bank or purchasing foreign cash for international travel:
| Customer Action | Applicable Banking Rate | Practical Scenario |
|---|---|---|
| Receiving Remittance / Export Pay | Bank Buying Rate | Bank buys foreign currency from you and credits NPR to your account |
| Traveling Abroad / Paying Tuition | Bank Selling Rate | You pay NPR to the bank to purchase foreign currency drafts or cash |
| Forex Exchange Spread | Selling Rate minus Buying Rate | Commercial margin retained by the financial institution |
| Indian Currency (INR) Exchange | Fixed Peg Rate (1.60) | NPR 160.00 for every INR 100.00 (plus 15 paisa bank clearing fee) |
The Mechanics of the Indian Rupee Peg
Under the bilateral currency peg agreement maintained since 1993, the exchange rate between the Nepalese Rupee and Indian Rupee remains pegged at 1.60. Consequently, when the Indian Rupee fluctuates against the US Dollar or Euro on international markets, the Nepalese Rupee moves in direct alignment.
Final Thoughts
Tracking official exchange rates ensures fair conversion terms on international transactions. Convert currencies in real time using our NRB Forex Exchange Calculator.
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