Kathmandu, Feb. 8 -- The Nepali rupee has hit an all-time low, with Nepal's central bank fixing the exchange rate at Rs140.43 per US dollar on Friday. The rupee depreciated by 0.18 paisa against the dollar in a single day, primarily due to the weakening of the Indian rupee, to which it is pegged.

The depreciation of the Indian currency directly impacts the Nepali rupee, causing it to weaken.

Nepal follows a pegged exchange rate system with the Indian rupee, meaning any fluctuation in the Indian currency also affects Nepal's exchange rate.

A year ago, the Nepali currency traded at around Rs133 per US dollar. The US dollar began strengthening after the Russia-Ukraine war in early 2022, contributing to global economic shifts.

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