The Nepali rupee dipped to new lows against the dollar last week responding to a slide in the value of the Indian rupee against the greenback?for the 22nd time in 11 months. In mid-January Rs 69.05 could buy a dollar. When the rupee depreciated on 29 November, it was dearer by Rs 5.60. The Nepali rupee is pegged to the Indian rupee at NRs1.6=IRs1 and every devaluation of the Indian rupee leads to corresponding change in the value of the Nepali currency.