The Nepali rupee appreciated 22 paisa against the dollar Friday after the greenback slumped earlier in the week as the value of the U.S. currency fell in the international money market coinciding with fears of a prolonged Iraq war. The Nepal Rashtra Bank Friday fixed the selling rate of a dollar to Rs.77.87 when it was selling at Rs.78.09 the previous day Thursday.
The central bank adjusted the price to maintain a cross exchange rate with the Indian rupee to stop its flight to India. The Nepali rupee is pegged to the U.S. dollar.