Rupee strengthens, gold price down

KATHMANDU, Feb 28

Nepali rupee gained 75 paisa against US dollar this week as the Indian currency, with which rupee is pegged, gained value against the greenback. Gold price, on the other hand, came down by Rs 340 per 10 grams this week.

CURRENCY

Rupee gained 75 paisa against US dollar to close at 99.11 on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of dollar fixed at Rs 99.86.

Though the rupee´s value remained constant on Monday, it lost 16 paisa to close at 100.02 against dollar on Tuesday. Rupee rallied on Wednesday, gaining 20 paisa to settle at 99.82 against the greenback. The local currency continued its gaining streak on Thursday as well as it strengthened by 37 paisa on Thursday to close at 99.45. Rupee gained another 34 paisa on Friday to close the week´s trading at 99.11.

Meanwhile, rupee gained 58 paisa against euro bust lost 44 paisa against Pound Sterling over the week. A euro was exchanged at Rs 112.53 on Friday, while the British Pound was valued Rs 153.80.

Source: Republica