There are other factors to consider when sending an international money transfer in addition to the exchange rate, including the transfer fees, the payment method, the speed of delivery and the level of customer service. What’s best for you might not be best for someone else.
How can I get the best exchange rate between US dollar and the Nepalese rupee?
To get the best exchange rate between the US dollar and the Nepalese rupee, it is important to first learn the mid-market rate, or the “real” exchange rate, of the currency. Always remember that banks will not give you the real exchange rate when you exchange money with them, but instead charge you a markup on the rate, which varies from bank to bank.
Online money transfer services often offer far better exchange rates than the banks does, and some even let you exchange money at the mid-market rate for a small fixed fee. You can compare many of these online services here on Finder.com to find the one best suited for your need.
If you are planning a trip to Nepal, bringing an international credit card with you and withdrawing Nepalese rupees once in Nepal may be a good option. Foreign exchange transaction fees vary by credit card though, so make sure to check with your credit card issuer first.
US Dollar
The US dollar is the most traded currency in the world. The world’s unofficial reserve currency, it can be found in most major currency pairs. In forex, it’s an important benchmark and target rate for countries that fix or peg their currencies against its value. It is also used as the standard currency for oil, precious metals and other commodities.
Currency:
US dollar
Currency Symbol:
$
Sub unit:
cents
Bank notes:
$1, $5, $10, $20, $50, $100
Coins:
1c, 5c, 10c, 25c, 50c
Nepalese Rupee
The rupee is the official currency of Nepal, a country at the foot of the Himalayan Mountains. Agriculture and tourism are the main sources of economic growth, though Nepal still relies on foreign aid for support and development.
Currency:
Nepalese rupee
Currency Symbol:
रू
Sub unit:
paisa
Bank notes:
Rs. रू5, रू10, रू20, रू50, रू100, रू500, रू1000
Coins:
Rs.रू1, रू2
What affects exchange rates between the US dollar and the Nepalese rupee?
The Nepalese rupee is currently pegged to the Indian rupee at a rate of 1.60 to 1. Because of this peg, the exchange rate between the US dollar and the Nepalese rupee follows that of the US dollar and the Indian rupee.
Because the Indian rupee officially is a free-floating currency, exchange rates between Indian rupee (or Nepalese rupee) and the US dollar is subject to the supply and demand for both currencies. For example, higher interest rates in one of the countries often lead to higher exchange rates for that currency because more investors will want to invest money in the country with the higher interest rate.
There are currently no signs that the peg between the Nepalese rupee and the Indian rupee is ending. However, if you are looking to make a big investment in Nepal you should look into this more carefully and consult local experts before exchanging your money. For the time being, the Indian economy remains the key factor in determining the exchange rate between US dollar and Nepalese rupee.
Send money from USD to NPR
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
How does the Nepalese rupee trade against the US dollar historically?
The Nepalese rupee replaced the old Nepalese mohar in 1932. Between 1932 and 1994, the Nepalese rupee was pegged to the Indian rupee at a rate of 1.45 Nepalese rupee to 1 Indian rupee. In 1994, the current peg was introduced with a rate of 1.60 Nepalese rupee to 1 Indian rupee.
The Indian rupee has in turn been pegged to both the British pound and the US dollar over the years, and the peg rate has been revalued many times. Today, the Indian rupee is officially a free-floating currency. However, the Reserve Bank of India is known to intervene in the foreign currency markets to keep the exchange rate within a certain undisclosed range.
Since 2013, the exchange rate between the US dollar and the Nepalese rupee has remained between 80 and 110 Nepalese rupees for 1 US dollar.
US dollar to the Nepalese rupee for the last 10 days
Feb 20
Feb 21
Feb 22
Feb 23
Feb 24
Feb 25
Feb 26
Feb 27
Feb 28
Mar 01
1 USD =
116.2164
Inverse: 0.0086
116.2164
Inverse: 0.0086
115.7152
Inverse: 0.0086
115.9425
Inverse: 0.0086
115.6840
Inverse: 0.0086
115.7062
Inverse: 0.0086
115.7062
Inverse: 0.0086
115.7062
Inverse: 0.0086
117.0118
Inverse: 0.0085
117.6207
Inverse: 0.0085
US dollar to the Nepalese rupee for the last 10 months
Apr 2020
May 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
Jan 2021
Feb 2021
1 USD =
121.0839
Inverse: 0.0083
120.8890
Inverse: 0.0083
120.9804
Inverse: 0.0083
119.5748
Inverse: 0.0084
116.2331
Inverse: 0.0086
117.4084
Inverse: 0.0085
119.1164
Inverse: 0.0084
118.2434
Inverse: 0.0085
117.4858
Inverse: 0.0085
116.6778
Inverse: 0.0086
US dollar to the Nepalese rupee for the last 10 years
Mar 2011
Mar 2012
Mar 2013
Mar 2014
Mar 2015
Mar 2016
Mar 2017
Mar 2018
Mar 2019
Feb 2020
1 USD =
70.9775
Inverse: 0.0141
78.6620
Inverse: 0.0127
87.8251
Inverse: 0.0114
98.9533
Inverse: 0.0101
99.0987
Inverse: 0.0101
108.9675
Inverse: 0.0092
106.7612
Inverse: 0.0094
104.2797
Inverse: 0.0096
113.3355
Inverse: 0.0088
115.5268
Inverse: 0.0087
Market rate for common transfer amounts USD to NPR
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