Forex Trading in Nepal

Nepal is a sovereign nation in South Asia. Its territory is located in the Himalayan mountain range, between India and China. It is a secular, multicultural and multilingual state, covering an area of only 147,181 km2.

The Nepalese territory is landlocked. It is located in the Himalayan mountain range but also covers various types of relief, such as the jungle plains of the Terai, or the valley where its capital city, Kathmandu, is located. Its territory is divided into 14 zones containing 75 different districts.

Nepal is one of the poorest and most underdeveloped countries in the world, with half of its population living below the poverty line. The local currency is the Nepalese Rupee (NPR) and agriculture is the mainstay of the nation’s economy.

The Nepalese history begins when the Empire of the Kirati occupied the north of the present India and the south of Tibet, approximately in the year 563 B.C. It was a Buddhist empire that was displaced by Hindu fiefs towards the year 200 A.D., succeeding in the central power several dynasties.

In the 18th century, King Gorkha Prithvi Narayan Shah proclaimed Kathmandu as the capital of the Kingdom. In 1814 he clashed with British troops who agreed to withdraw in exchange for the regions of Sikkim and the southern Terai. This became known as the Anglo-Nepalese War which ended with the Treaty of Sugauli in 1816.

After the Nepalese collaboration in the confrontation of the Sepoy rebellion in India in 1857, many of the territories ceded to the British were returned to the country.

British interference led to the overthrow of the established monarchy and the emergence of a new one during the 20th century. A Nepalese democratic experiment was created which did not last long, but was forcibly resumed in 1989 due to pressure from the Jana Andolan People’s Movement.

In 1991 the first free elections were held in the country. In 1996 the Communist Party of Nepal attempted an armed insurrection to proclaim a Maoist state. Thus began a civil war that lasted for 10 years, claiming the lives of almost 13,000 people.