KATHMANDU: The value of Nepali rupee vis-à-vis US dollar has dropped to a fresh near-nine-month low. According to Nepal Rastra Bank, the exchange rate of dollar against Nepali rupee has been set at Rs 109.90 for Thursday against Rs 109.38 on Wednesday. The last time the value of Nepali rupee had plunged to this level was on March 1, when the exchange rate stood at Rs 109.77. The value of Nepali rupee has weakened as the Indian rupee, to which the local currency is pegged, closed at a fresh nine-month low against the US dollar on Wednesday. This was on the back of foreign institutional investors selling a combined $3.18 billion in local equity and debt markets so far in November. With the US Federal Reserve poised to normalise rates, and inflation expectations intensifying due to likely tax cuts and fiscal stimulus from the new US administration, analysts are forecasting a four per cent rise in the dollar index by the end of 2017 and a 7.5 per cent rise 12 months later.