Economy News - Page 21
Forex Update: Nepal Rastra Bank Unveils Today's Foreign Exchange Rates; US Dollar and Euro Hold Strong
Nepal Rastra Bank (NRB) has released the official foreign exchange rates for Friday, setting the US Dollar selling rate at Rs 153.52 and the European Euro at Rs 177.12, while noting that commercial bank rates may slightly vary.
Non-Compliance Crackdown: Problematic Cooperatives Management Committee Exposes 132 Defaulters
The Office of the Problematic Cooperatives Management Committee has publicly blacklisted 132 loan defaulters from Hamro Naya Krishi and Krishi Bikash Multipurpose Cooperatives, issuing a strict ultimatum for immediate repayment.
Friday Market Update: Gold Hits Rs 292,000 as Silver Climbs to Rs 4,840
The Nepalese bullion market witnessed a massive rally on Friday, with fine gold skyrocketing by Rs 5,300 per tola to trade at Rs 292,000, while silver jumped by Rs 190 per tola.
Precious Metals Plunge: Gold Drops by Rs. 5,100 Per Tola, Silver Follows Suit
The domestic market witnessed a notable decline in precious metal prices today, with fine gold dropping by Rs. 5,100 per tola to stand at Rs. 286,700. According to the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA), Tejabi gold and silver prices also recorded downward corrections in tandem with the market trend.
Nepal Airlines Soars: Revenue Hits NPR 14.69 Billion in 10 Months as International Flights Stabilize
Nepal Airlines Corporation (NAC) recorded a significant 24.91% increase in revenue, reaching NPR 14.69 billion during the first ten months of the current fiscal year. This financial boost is driven by an increase in passenger numbers, smooth operational management, and highly lucrative international routes, with Tokyo's Narita sector leading the growth.
Nepal and India Launch Real-Time UPI-NPI Digital Remittance Gateway for Migrant Workers
Nepal and India have formally operationalized a cross-border digital remittance service linking Nepal’s National Payments Interface (NPI) with India’s Unified Payments Interface (UPI), allowing migrant workers to bypass traditional networks and transfer funds directly via mobile apps.
Gold Prices Plunge by Over Rs 10,000 per Tola in Massive Single-Day Drop
The Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA) reported an unprecedented single-day crash in the bullion market today, as fine gold plummeted by Rs 10,100 per tola, slipping well below the Rs 300,000 mark.
Flydubai Approved for Daily Direct Flights to Pokhara Starting September
The Civil Aviation Authority of Nepal (CAAN) has officially cleared Flydubai to launch daily direct flights between Dubai and Pokhara International Airport starting September 23, marking a monumental shift for the region's tourism and international transit network.
Mustang Customs Collects Massive Rs. 6.66 Billion in Revenue!
Driven by a surge in trade following the full activation of the Korala border point with China, the Mustang Customs Office has recorded a historic revenue collection of Rs. 6.66 billion as of late May.
Gold Hits New Heights with a Massive Rs. 2,000 Jump!
Precious metals saw an upward trend on Tuesday as the domestic market witnessed an Rs. 2,000 hike in the price of gold per tola, while silver prices nudged up by Rs. 20 per tola.
NRB Fixes Fresh Forex Rates for Monday; US Dollar Crosses Rs 152 Selling Mark
Nepal Rastra Bank (NRB) has unveiled today's foreign exchange rates, positioning the US Dollar selling rate at Rs 152.22.
Finance Ministry Finalizes Rs 109.65 Billion Intergovernmental Transfer for Seven Provinces
The Ministry of Finance has finalized a total budget transfer of Rs. 109.65 billion across four grant categories for all seven provinces for FY 2083/84.