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<p style="text-align: justify;">Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade. </p>
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<p style="text-align: justify;">Nepal that has adopted pegged exchange rate system with India has maintained the rate fixed for the past 24 years at NPR 1.6 for INR 1.</p>
<p style="text-align: justify;">After the study conducted by the Nepal Rastra Bank (NRB) showed the need of review in the pegged exchange rate system with India, the government directed the NPC to further study regarding the matter.</p>
<p style="text-align: justify;"> “The NRB study concluded that the foreign exchange rate system with India should be reviewed in order to be benefited from trade and investment from third countries,” said Dr Min Bahadur Shrestha, vice-chairman of NPC.</p>
<p style="text-align: justify;">Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade. </p>
<p style="text-align: justify;"> The International Monetary Fund (IMF) as well as other multilateral donor agencies had also recommended the pegged foreign exchange system as an ideal tool of monetary policy for Nepal.</p>
<p style="text-align: justify;">The Consultative Mission of IMF that visited Nepal for inspection of economy and for consultation with stakeholders in January this year had also recommended continuing the pegged foreign exchange rate system with India. Nepali currency was pegged with Indian currency in 1992 at NRs 1.6 for IRs 1.</p>
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<p style="text-align: justify;">The government now considers the two-decade old pegged foreign exchange rate with India a possible constraint in attracting Foreign Direct Investment (FDI).</p>
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<p style="text-align: justify;">Nepal that has adopted pegged exchange rate system with India has maintained the rate fixed for the past 24 years at NPR 1.6 for INR 1.</p>
<p style="text-align: justify;">After the study conducted by the Nepal Rastra Bank (NRB) showed the need of review in the pegged exchange rate system with India, the government directed the NPC to further study regarding the matter.</p>
<p style="text-align: justify;"> “The NRB study concluded that the foreign exchange rate system with India should be reviewed in order to be benefited from trade and investment from third countries,” said Dr Min Bahadur Shrestha, vice-chairman of NPC.</p>
<p style="text-align: justify;">Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade. </p>
<p style="text-align: justify;"> The International Monetary Fund (IMF) as well as other multilateral donor agencies had also recommended the pegged foreign exchange system as an ideal tool of monetary policy for Nepal.</p>
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<p style="text-align: justify;">Nepal that has adopted pegged exchange rate system with India has maintained the rate fixed for the past 24 years at NPR 1.6 for INR 1.</p>
<p style="text-align: justify;">After the study conducted by the Nepal Rastra Bank (NRB) showed the need of review in the pegged exchange rate system with India, the government directed the NPC to further study regarding the matter.</p>
<p style="text-align: justify;"> “The NRB study concluded that the foreign exchange rate system with India should be reviewed in order to be benefited from trade and investment from third countries,” said Dr Min Bahadur Shrestha, vice-chairman of NPC.</p>
<p style="text-align: justify;">Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade. </p>
<p style="text-align: justify;"> The International Monetary Fund (IMF) as well as other multilateral donor agencies had also recommended the pegged foreign exchange system as an ideal tool of monetary policy for Nepal.</p>
<p style="text-align: justify;">The Consultative Mission of IMF that visited Nepal for inspection of economy and for consultation with stakeholders in January this year had also recommended continuing the pegged foreign exchange rate system with India. Nepali currency was pegged with Indian currency in 1992 at NRs 1.6 for IRs 1.</p>
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<p style="text-align: justify;"> “The NRB study concluded that the foreign exchange rate system with India should be reviewed in order to be benefited from trade and investment from third countries,” said Dr Min Bahadur Shrestha, vice-chairman of NPC.</p>
<p style="text-align: justify;">Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade. </p>
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<p style="text-align: justify;">Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade. </p>
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<p style="text-align: justify;">Nepal that has adopted pegged exchange rate system with India has maintained the rate fixed for the past 24 years at NPR 1.6 for INR 1.</p>
<p style="text-align: justify;">After the study conducted by the Nepal Rastra Bank (NRB) showed the need of review in the pegged exchange rate system with India, the government directed the NPC to further study regarding the matter.</p>
<p style="text-align: justify;"> “The NRB study concluded that the foreign exchange rate system with India should be reviewed in order to be benefited from trade and investment from third countries,” said Dr Min Bahadur Shrestha, vice-chairman of NPC.</p>
<p style="text-align: justify;">Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade. </p>
<p style="text-align: justify;"> The International Monetary Fund (IMF) as well as other multilateral donor agencies had also recommended the pegged foreign exchange system as an ideal tool of monetary policy for Nepal.</p>
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April 6: The government is planning to review the 24-year old system of pegged exchange rate of Nepali currency with Indian currency.
The preparation is being forwarded in a bid to attract huge foreign investments required to upgrade the country to Middle-income country by 2030.
National Planning Commission (NPC) has already started study regarding the matter, informed an official at NPC.
Nepal that has adopted pegged exchange rate system with India has maintained the rate fixed for the past 24 years at NPR 1.6 for INR 1.
After the study conducted by the Nepal Rastra Bank (NRB) showed the need of review in the pegged exchange rate system with India, the government directed the NPC to further study regarding the matter.
“The NRB study concluded that the foreign exchange rate system with India should be reviewed in order to be benefited from trade and investment from third countries,” said Dr Min Bahadur Shrestha, vice-chairman of NPC.
Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade.
The International Monetary Fund (IMF) as well as other multilateral donor agencies had also recommended the pegged foreign exchange system as an ideal tool of monetary policy for Nepal.
The Consultative Mission of IMF that visited Nepal for inspection of economy and for consultation with stakeholders in January this year had also recommended continuing the pegged foreign exchange rate system with India. Nepali currency was pegged with Indian currency in 1992 at NRs 1.6 for IRs 1.
The government has targeted to upgrade the nation to middle-income nation by 2030. Therefore, the government has prepared internally to change the exchange rate in order to attract big investments from countries other than India. For this, the government has to change the current policies to adopt free exchange rate system unpegged to Indian currency.
The government now considers the two-decade old pegged foreign exchange rate with India a possible constraint in attracting Foreign Direct Investment (FDI).
According to the NRB study also, the devaluation of Nepali rupee against US Dollar is mainly caused by pegged foreign exchange rate with India rather than the volume of export and import. A study by the South Asia Watch on Trade, Economics and Environment (SAWTEE) had also recommended change in the pegged exchange rate with Indian currency.
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<p style="text-align: justify;">Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade. </p>
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<p style="text-align: justify;">Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade. </p>
<p style="text-align: justify;"> The International Monetary Fund (IMF) as well as other multilateral donor agencies had also recommended the pegged foreign exchange system as an ideal tool of monetary policy for Nepal.</p>
<p style="text-align: justify;">The Consultative Mission of IMF that visited Nepal for inspection of economy and for consultation with stakeholders in January this year had also recommended continuing the pegged foreign exchange rate system with India. Nepali currency was pegged with Indian currency in 1992 at NRs 1.6 for IRs 1.</p>
<p style="text-align: justify;">The government has targeted to upgrade the nation to middle-income nation by 2030. Therefore, the government has prepared internally to change the exchange rate in order to attract big investments from countries other than India. For this, the government has to change the current policies to adopt free exchange rate system unpegged to Indian currency.</p>
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<p style="text-align: justify;">After the study conducted by the Nepal Rastra Bank (NRB) showed the need of review in the pegged exchange rate system with India, the government directed the NPC to further study regarding the matter.</p>
<p style="text-align: justify;"> “The NRB study concluded that the foreign exchange rate system with India should be reviewed in order to be benefited from trade and investment from third countries,” said Dr Min Bahadur Shrestha, vice-chairman of NPC.</p>
<p style="text-align: justify;">Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade. </p>
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'title' => 'Pegged Exchange Rate with IRS to be Reviewed',
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'summary' => 'April 6: The government is planning to review the 24-year old system of pegged exchange rate of Nepali currency with Indian currency.',
'content' => '<p style="text-align: justify;">April 6: The government is planning to review the 24-year old system of pegged exchange rate of Nepali currency with Indian currency.</p>
<p style="text-align: justify;">The preparation is being forwarded in a bid to attract huge foreign investments required to upgrade the country to Middle-income country by 2030.</p>
<p style="text-align: justify;">National Planning Commission (NPC) has already started study regarding the matter, informed an official at NPC.</p>
<p style="text-align: justify;">Nepal that has adopted pegged exchange rate system with India has maintained the rate fixed for the past 24 years at NPR 1.6 for INR 1.</p>
<p style="text-align: justify;">After the study conducted by the Nepal Rastra Bank (NRB) showed the need of review in the pegged exchange rate system with India, the government directed the NPC to further study regarding the matter.</p>
<p style="text-align: justify;"> “The NRB study concluded that the foreign exchange rate system with India should be reviewed in order to be benefited from trade and investment from third countries,” said Dr Min Bahadur Shrestha, vice-chairman of NPC.</p>
<p style="text-align: justify;">Due to long open border and dependent trade relations with India, the government had pegged its currency with Indian currency in order to maintain stability in price in internal market and for external trade. </p>
<p style="text-align: justify;"> The International Monetary Fund (IMF) as well as other multilateral donor agencies had also recommended the pegged foreign exchange system as an ideal tool of monetary policy for Nepal.</p>
<p style="text-align: justify;">The Consultative Mission of IMF that visited Nepal for inspection of economy and for consultation with stakeholders in January this year had also recommended continuing the pegged foreign exchange rate system with India. Nepali currency was pegged with Indian currency in 1992 at NRs 1.6 for IRs 1.</p>
<p style="text-align: justify;">The government has targeted to upgrade the nation to middle-income nation by 2030. Therefore, the government has prepared internally to change the exchange rate in order to attract big investments from countries other than India. For this, the government has to change the current policies to adopt free exchange rate system unpegged to Indian currency.</p>
<p style="text-align: justify;">The government now considers the two-decade old pegged foreign exchange rate with India a possible constraint in attracting Foreign Direct Investment (FDI).</p>
<p style="text-align: justify;">According to the NRB study also, the devaluation of Nepali rupee against US Dollar is mainly caused by pegged foreign exchange rate with India rather than the volume of export and import. A study by the South Asia Watch on Trade, Economics and Environment (SAWTEE) had also recommended change in the pegged exchange rate with Indian currency.</p>
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