KATHMANDU: Nepal News presents today’s snapshot of Nepal’s economic activities. Get quick updates on major market movements, policy shifts, and financial developments shaping the economy of Nepal. Here are the key economic highlights for today:

NRB Fixes Exchange Rates; Dollar Stable, Euro and Pound Down

Nepal Rastra Bank has fixed today’s foreign exchange rates, keeping the U.S. dollar steady while the euro and pound weakened. The dollar trades at Rs 140.39 (buying) and Rs 140.99 (selling). The euro is at Rs 162.68 and Rs 163.83, and the pound at Rs 186.91 and Rs 187.71. The central bank said rates may be adjusted anytime and commercial banks may set slightly different figures.

Bhojpur Faces Flower Shortage Ahead of Tihar

Bhojpur district is witnessing a severe flower shortage this Tihar as late blooming hit production. Farmers report most plants remain in the bud stage due to unfavorable weather. Flowers like marigold, chrysanthemum, and globe amaranth are in short supply, pushing up prices. Local growers and traders say demand has surged but supply cannot keep up this year.

Irrigation Projects Worth Rs 157.5 million Launched in Tanahun

The Tanahun-based Irrigation and Water Resources Management Project, Bhanu, has initiated Rs 157.5 million worth of irrigation and landslide control projects this fiscal year. Five major projects, each allocated Rs 30 million, include large-scale lift irrigation in Devghat and Shishaghat, slope protection in Shuklagandaki, and landslide control in Galewshwar. The office operates across Tanahun, Lamjung, Manang, and Gorkha.

Tribhuvan Airport Handles Over 760,000 Passengers in October

Tribhuvan International Airport recorded 761,414 passengers from mid-September to mid-October 2025, one of the busiest months due to festival travel. Domestic passengers accounted for 323,012, while 438,406 traveled internationally. The airport saw 8,417 total flights and landings, with 31 international airlines in operation. Officials say the airport ran near full capacity throughout the month.

Saudi Arabia Officially Ends 70-Year-Old ‘Kafala System’

Saudi Arabia has formally abolished its 70-year-old Kafala (sponsorship) system, first announced in June 2025. The reform benefits over 13 million migrant workers, mainly from India, Bangladesh, Nepal, and the Philippines. The new policy grants workers freedom to change jobs and exit the country without employer approval. Human rights groups had long criticized the system as modern slavery, while Saudi officials framed the change as part of Vision 2030.

Rising Flow of Nepali Workers to UAE Despite Visa Restrictions

Despite stricter visa rules, Nepali labor migration to the UAE continues to rise. In the last fiscal year, 274,590 Nepalis received labor permits, double the previous year. About 90 percent of workers go through institutional processes. Businesses report increasing rejection of new visa applications after recent incidents in Nepal, though Abu Dhabi has not issued an official explanation. The UAE hosts over 800,000 Nepalis.

New Saudi Labor Rules Grant Greater Worker Freedom

Following the end of the Kafala system, Saudi Arabia introduced new regulations ensuring foreign workers’ rights to switch employers, travel, and seek legal aid without their sponsor’s consent. Employment contracts will now be mandatory and written, clarifying wages, benefits, and duration. The reform aligns with Crown Prince Mohammed bin Salman’s Vision 2030 to improve labor rights, attract foreign investment, and shed the kingdom’s exploitative image.

500 Foreign Nationals Receive Work Permits in Nepal

In the first quarter of FY 2025/26, 500 foreign nationals obtained new or renewed work permits in Nepal. The majority are Chinese technical experts working in major infrastructure projects such as hydropower, roads, and airports. Last year, 1,667 foreigners renewed permits, while this year’s new permits reached 165. The department also monitored five firms employing foreigners during this period.

Nepal Registers Surge in Labor Supply Companies

The Department of Labor and Occupational Safety has recorded 437 licensed labor supply companies in Nepal as of FY 2025/26. These include firms renewed or newly registered over the past two fiscal years, primarily providing security, household, and support staff. The department warned against hiring unregistered suppliers and has begun imposing fines on violators. Officials say the number of legally registered firms has grown as enforcement tightened.

Gold Prices Plunge Globally, Affecting Nepali Market During Festival Week
Global gold prices saw their sharpest drop in 12 years, falling nearly 6 percent to around 4,000 dollars per ounce. In Nepal, gold prices declined by over Rs 3,800 per tola this week, dampening festive-season demand. Traders say buyers stayed cautious despite Tihar and Chhath sales. The fall is attributed to a stronger U.S. dollar and renewed optimism in U.S.-China trade talks. Analysts expect short-term volatility before a possible rebound next year.

UN Chief Warns of Threats to Rules-Based Global Trade

UN Secretary-General António Guterres warned that debt, heavy taxation, and financial insecurity in developing nations are endangering the global trade system. Speaking at the UNCTAD conference in Geneva, he said many countries spend more on debt servicing than on health and education. Guterres emphasized four priorities: fair trade, development financing, innovation-driven growth, and aligning trade with climate goals.

UAE Tightens Visit Visa Rules for Families and Friends

The United Arab Emirates has enforced new regulations for sponsoring family and friends under visit visas. Sponsors now need stronger income credentials, with minimum monthly salaries set between AED 4,000 and AED 15,000, depending on the relationship. Applicants must submit proof of kinship and valid travel documents. The new rule aims to increase transparency in visa issuance after UAE recently tightened multiple visa categories for foreigners.

Global Gold Market Shaken by Sudden Price Crash

Gold prices plunged by more than 5 percent Wednesday, dropping from 4,381 to around 4,080 dollars per ounce. The fall wiped out recent gains after a year of nearly 60 percent growth. Analysts attribute the slide to profit-taking, easing geopolitical tensions, and stronger U.S. currency. Experts say the 4,000-dollar level is a critical support zone; if breached, prices could dip to 3,850 dollars.