Rupee weakens, gold glitters

KATHMANDU, Aug 14:

Nepali rupee lost Rs 1.97 against US dollar this week as the Indian currency, with which rupee is pegged, weakened against the greenback.

Price of gold, on the other hand, went up by a whooping Rs 1,370 per 10 grams over this week.

CURRENCY

Rupee lost Rs 1.97 to close at 104.36 against US dollar on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of dollar fixed at Rs 102.39.

The local currency lost 1 paisa on Monday to settle at 102.40 against dollar. On Tuesday, however, rupee gained 2 paisa to close at 102.38. Rupee lost 63 paisa against the greenback on Wednesday to settle at 103.01. Rupee lost another Rs 1.03 on Thursday to settle at 104.04 against dollar. The local depreciated by further 32 paisa on Friday to close the week's trading at 104.36 against dollar.

Meanwhile, rupee lost a massive Rs 4.09 against euro and Rs 3.97 against Pound Sterling this week. A euro was exchanged at Rs 115.96 on Friday, while the Pound Sterling was valued Rs 162.94.

BULLION

Gold price went up by Rs 1,370 per 10 grams over the week as the price of yellow metal increased in the international market. Trading opened on Sunday with price of gold fixed at Rs 40,895 per 10 grams.

Though price remained unchanged on Monday, gold became dearer by Rs 430 per 10 grams on Tuesday to Rs 41,325. Gold price increased further by Rs 600 per 10 grams to Rs 41,925 on Wednesday. On Thursday also, price of gold increased by Rs 340 per 10 grams to settle at Rs 42,265. Gold price remained unchanged on Friday to close the week's trading at Rs 42,265.

Similarly, price of silver increased by Rs 30 per 10 grams this week. On Friday, silver was traded at Rs 600 per 10 grams.

Source: Republica