Nepali rupee hits all-time low of 109.93 per dollar

Kathmandu February 18- The Nepali rupee plunged to an all-time low against the US dollar on Wednesday with Nepal Rastra Bank (NRB) fixing the exchange rate at Rs109.93 for Thursday.

With the rupee weakening against the greenback over the last several months, the already steep rise in prices of imported goods caused by supply constraints due to the Indian embargo has been worsened.

The local currency plunged below Rs109 per US dollar on January 21 for the first time this year. Then it dropped to a record low of Rs109.48 per US dollar on February 12 before eventually coming down to fresh low on Wednesday.