Whether the $ will go up or down vs NPR depends on whether the foreign investment into India continues or the investors pull out their funds. Based on the latest reports, as the cost of doing business increases in China, due to appreciation in Chinese Yuan and also the new Labor standard, Western companies are moving their production to Vietnam and India. If this trend continues, then Indian currency, and by default the NPR too, will definitely appreciate against the dollar. Of course, the whole scenario will change if NPR gets devalued against the INR.

Another strike against the dollar is the low interest rate in the US. As the economy is faltering, the Fed has reduced the interest rates and that is driving the money out of US (seeking higher return).

The third strike against the dollar is the rising price of oil. As the price of oil has increased rapidly, the US is having to send more dollars abroad.

The only good thing going for dollar is that the US export is surging due to low valuation of $ against the Euro, Pound and Yen.

Hence, it seems unlike that the $ will rise in next few months.