Xiaomi Nepal has hiked their smartphones’ price due to USD exchange rate
Xiaomi Nepal, which is one of the top smartphone companies in the country has recently made an announcement about the hike in the price of some of their smartphones.
Well, like we all know the pandemic has caused a huge economic and social disbalance. Not just that the Covid-19 outburst affected the globe in various ways, similarly one of the effects is the hike in the price of the US dollar. So due to the hike in the exchange rate of the US dollar during this unfortunate situation, Xiaomi posted an update stating that due to the depreciation of Nepalese Rupee against the US dollar, the company has no other option but to increase the prices of their products. They also stated, “We have done our best to keep the increase at the minimum level.”
With that Xiaomi also stated that they will be willing to provide the best quality and assurance at an honest price and will appreciate the consideration and support.
Now, let’s break this down on how the value of the dollar has affected the price before and after the pandemic scenario. As we know before the Covid-19 outburst the value of the dollar on( February 27, 2020 )was 1$= Rs 112.85, while after two months of on-going pandemic and more than a month of the lockdown the price of dollar hiked to $1=Rs 119.29. So, due to the continuous hike in the USD exchange rate, Xiaomi has also increased the price of the Xiaomi products.