KATHMANDU, Nepal-With the rising value of US dollar which is expected to raise their income, tourism entrepreneurs are having a good time this year. The rising value of dollar has not only provided huge profit, but also added thrill to the entrepreneurs.
Nepali rupee has further devalued to an all time low against US dollar as the central bank has fixed the exchange rate at Rs. 96.77 per US/ dollar on Thursday.
Even though the rising value of dollar will result in loss on many things since Nepalese business is dependent on imports, Nepalese business operators are reaping business, former president of the Nepal Association of Tour and Travel Agents (NATTA) Ram Kaji Kone said. According to him, the whole tourism sectors get benefitted when the value of dollar rises.
He said the entrepreneurs benefit as they spend in Nepali currency when taking the travelers for sightseeing and paying the staffers and workers, while they charge the tourists in dollars. He further added that Nepalese entrepreneurs would enjoy more benefit if the tourists are European or American.
Due to the increased value of dollars, Nepali workers sending remittance from foreign nations also stand to benefit. Bankers are also confident that more remittance will arrive in this situation.
Price of consumer goods and other items also rises massively as Nepal has to depend on imports.
The exchange rate of US$ had climbed to Rs 96 on Sunday after remaining stable at Rs 86 for few months.
Nepali currency has been directly affected as the Indian currency is weakening in relation to dollar.
Tourism entrepreneurs exited as rupee hits all time low
KATHMANDU, Nepal-With the rising value of US dollar which is expected to raise their income, tourism entrepreneurs are having a good time this year. The rising value of dollar has not only provided huge profit, but also added thrill to the entrepreneurs.
Nepali rupee has further devalued to an all time low against US dollar as the central bank has fixed the exchange rate at Rs. 96.77 per US/ dollar on Thursday.
Even though the rising value of dollar will result in loss on many things since Nepalese business is dependent on imports, Nepalese business operators are reaping business, former president of the Nepal Association of Tour and Travel Agents (NATTA) Ram Kaji Kone said. According to him, the whole tourism sectors get benefitted when the value of dollar rises.
He said the entrepreneurs benefit as they spend in Nepali currency when taking the travelers for sightseeing and paying the staffers and workers, while they charge the tourists in dollars. He further added that Nepalese entrepreneurs would enjoy more benefit if the tourists are European or American.
Due to the increased value of dollars, Nepali workers sending remittance from foreign nations also stand to benefit. Bankers are also confident that more remittance will arrive in this situation.
Price of consumer goods and other items also rises massively as Nepal has to depend on imports.
The exchange rate of US$ had reached Rs 96 on Sunday after remaining stable at Rs 86 for few months.
Nepali currency has been directly affected as the Indian currency is weakening in relation to dollar.
