The Nepali rupee is pegged to India's. Here is what that buys and what it costs

One hundred and sixty Nepali rupees to one hundred Indian: the rate has not moved in three decades. With an open border and most trade flowing south, a floating rate would mean constant price churn. [1]

The cost is independence. When India's central bank moves, Nepal's must follow or watch reserves drain. [2]

Would anyone change it?

Periodically an economist proposes a managed float. The proposal rarely survives contact with the question of what would happen to prices in the border towns the next morning.