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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
| Currency: | US dollar |
| Currency Symbol: | $ |
| Sub unit: | cents |
| Bank notes: | $1, $5, $10, $20, $50, $100 |
| Coins: | 1c, 5c, 10c, 25c, 50c |
Nepalese Rupee
| Currency: | Nepalese rupee |
| Currency Symbol: | रू |
| Sub unit: | paisa |
| Bank notes: | Rs. रू5, रू10, रू20, रू50, रू100, रू500, रू1000 |
| Coins: | Rs.रू1, रू2 |
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.
Best ways to send money to Nepal
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.
| Apr 27 | Apr 28 | Apr 29 | Apr 30 | May 01 | May 02 | May 03 | May 04 | May 05 | May 06 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 119.2009 Inverse: 0.0084 | 119.0332 Inverse: 0.0084 | 118.5048 Inverse: 0.0084 | 118.4902 Inverse: 0.0084 | 119.1186 Inverse: 0.0084 | 119.1186 Inverse: 0.0084 | 118.2424 Inverse: 0.0085 | 118.1353 Inverse: 0.0085 | 118.2017 Inverse: 0.0085 | 117.9959 Inverse: 0.0085 |
| Jul 2020 | Aug 2020 | Sep 2020 | Oct 2020 | Nov 2020 | Dec 2020 | Jan 2021 | Feb 2021 | Mar 2021 | Apr 2021 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 119.7615 Inverse: 0.0083 | 119.7347 Inverse: 0.0084 | 116.9061 Inverse: 0.0086 | 117.1863 Inverse: 0.0085 | 119.3119 Inverse: 0.0084 | 117.9772 Inverse: 0.0085 | 117.4858 Inverse: 0.0085 | 116.5685 Inverse: 0.0086 | 116.4291 Inverse: 0.0086 | 117.1720 Inverse: 0.0085 |
| May 2011 | May 2012 | May 2013 | May 2014 | May 2015 | May 2016 | May 2017 | May 2018 | May 2019 | May 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 71.6628 Inverse: 0.0140 | 84.1451 Inverse: 0.0119 | 86.7388 Inverse: 0.0115 | 96.3614 Inverse: 0.0104 | 102.0357 Inverse: 0.0098 | 106.5274 Inverse: 0.0094 | 102.5817 Inverse: 0.0097 | 106.9244 Inverse: 0.0094 | 110.9497 Inverse: 0.0090 | 121.1486 Inverse: 0.0083 |
| US Dollars (USD) | Nepalese Rupee (NPR) |
|---|---|
| $1 | 0 |
| $100 | 0 |
| $500 | 0 |
| $1000 | 0 |
| $1500 | 0 |
| $2500 | 0 |
| $5000 | 0 |
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