Kathmandu — Nepal Rastra Bank has published today’s official foreign exchange rates. The US dollar remains stable, with a buying rate of NPR 143.47 and a selling rate of NPR 144.07. The euro is set at NPR 168.90 for buying and NPR 169.61 for selling. The British pound stands at NPR 193.68 for buying and NPR 194.49 for selling. The Swiss franc is listed at NPR 181.73 for buying and NPR 182.49 for selling. Rates for other major currencies include: Australian dollar: NPR 96.35 (buying), NPR 96.75 (selling) Canadian dollar: NPR 104.94 (buying), NPR 105.38 (selling) Singapore dollar: NPR…
Author: Nepal Monitor
Kathmandu — Silver prices jumped 9% in a single day, reaching a new record high. The surge comes as global supply tightens and industrial demand grows. On Friday, silver traded at $78.53 per ounce, the highest price ever recorded. Other precious metals also rose sharply. Gold hit $4,549.71 per ounce, while platinum climbed 10% to $2,454.12 per ounce. Analysts say the main reason for silver’s rise is a persistent supply shortage. Silver is widely used in solar panels, electronics, electric vehicles, and other high-tech industries. Demand keeps growing, but production has not kept pace. This mismatch has pushed prices…
Kathmandu — Rastriya Swatantra Party (RSP) chair Rabi Lamichhane and Kathmandu Mayor Balen Shah have reached a seven‑point agreement to contest the upcoming House of Representatives election under one party. Under the deal, Lamichhane will lead the party. After the election, Shah will be put forward as the leader of the parliamentary party and the party’s candidate for prime minister. The agreement outlines a roadmap for the next ten years and states that both sides accept it. Shah has agreed to join the RSP, and the party will keep its current name, flag, and election symbol. Lamichhane and Shah signed…
The Rasuwa Customs Office cleared 50 BYD Dolphin cars, 50 AC/DC chargers, and 50 SIM cards on May 23, 2025, under declaration number 6709. The office processed all items through the red‑line channel, which is used for high‑risk or suspicious imports. Customs officials in Kathmandu said BYD electric cars have begun to face red‑line checks after signs of irregularities in recent shipments. The shift follows concerns about how the vehicles and related parts are being imported. Saimex Inc., the official BYD distributor for Nepal, has been under scrutiny for its import practices. The company has long faced criticism for…
Kathmandu — Australia’s federal government has banned children under 16 from using social media. A recent survey shows strong public support for the move. Roy Morgan Research, working with Monash University, surveyed 1,598 people. About 79% supported the ban, which took effect on Wednesday. Support varied by age group: 72% of people aged 18–24 supported the ban 80% of those aged 50–64 supported it 87% of people over 65 backed the decision Professor Mark Andrejevic of Monash University said the ban targets large foreign platforms that track young users and profit from advertising. The government claims these apps expose children…
Kathmandu — Nepal Rastra Bank has released today’s official foreign exchange rates. The central bank set the buying rate for one US dollar at NPR 143.15 and the selling rate at NPR 143.75. Rates for other major currencies include: Euro: Buy at NPR 168.90, sell at NPR 169.61 British Pound: Buy at NPR 193.37, sell at NPR 194.18 Swiss Franc: Buy at NPR 181.79, sell at NPR 182.55 Australian Dollar: Buy at NPR 95.84, sell at NPR 96.24 Canadian Dollar: Buy at NPR 104.45, sell at NPR 104.89 Singapore Dollar: Buy at NPR 111.40, sell at NPR 111.87 Japanese Yen…
A government task force in Nepal has urged the country’s central bank to review how it handles cryptocurrency and other new financial technology. The group said Nepal should not view crypto only through the lens of a ban, but should also study its possible uses. The task force was formed after Dr. Bishwo Poudel became governor of Nepal Rastra Bank. It is led by former central bank director Dr. Rewat Bahadur Karki. Former banker Bhuvan Dahal and central bank director Guru Prasad Paudel also serve on the team. The group said Nepal should continue research on crypto instead of relying…
GORKHA — Two new hydropower projects, Budhigandaki ‘A’ and Budhigandaki ‘B’, are set to be built in Gorkha. Budhigandaki ‘A’ will generate 103.4 megawatts, while Budhigandaki ‘B’ will produce 226 megawatts, according to project engineer Durgesh Magar. Both projects are being promoted by Naulo Nepal Hydro Electric Company Pvt. Ltd. The company plans to invest NPR 31.32 billion in Budhigandaki ‘A’ and NPR 56.99 billion in Budhigandaki ‘B’. Budhigandaki ‘A’ will include a dam at Lusyang in Dharche-3. Water will be diverted through a 4-kilometer tunnel to a powerhouse at Machakhola. Both projects will use run-of-the-river technology. Budhigandaki ‘A’ will…
The International Monetary Fund (IMF) has raised concerns that Nepali banks are using loose loan‑classification practices, keeping weak provisions for risk, expanding evergreen lending, and operating with weak credit‑risk management systems. In Kathmandu, a new review shows rising credit risk in large project loans issued by commercial banks. Many projects have not made the physical progress expected for the size of the loans they received. A Bangladeshi consulting firm, Hawlader Yunus & Company, is testing the loan quality of 10 major commercial banks. Its early findings show slow construction progress compared with the volume of credit disbursed. Officials at Nepal…
Kathmandu — Reliance Spinning Mills Limited has opened its Initial Public Offering (IPO) to the general public starting today, following earlier allotments to Nepali citizens working abroad and institutional investors. The company priced its IPO using the book building method, the same approach used previously by Sarbottam Cement. Reliance first offered shares to Nepali migrant workers, then allocated shares to qualified institutional investors through competitive bidding. The cutoff price was set at NPR 912 per share. After applying a 10% discount, the final price for public investors is NPR 820.80 per share. Out of the total offering, 57,798 shares are…