Rupee gains 22 paisa against USD
KATHMANDU:
Nepali rupee gained 22 paisa against US dollar this week as the Indian currency, with which rupee is pegged, strengthened against the greenback. Gold price increased by Rs 345 per 10 grams over the week.
CURRENCY
The local currency strengthened by 22 paisa against US dollar this week. Nepal Rastra Bank (NRB), the central monetary authority, opened currency trading on Sunday with exchange rate of dollar fixed at Rs 99.70. Though rupee´s value remained unchanged on Monday, it gained 8 paisa on Tuesday to settle at 99.62.
The local currency strengthened by 22 paisa on Wednesday to close at 99.40. Rupee, however, lost 8 paisa on Thursday to settle at 99.48. The value of rupee against US dollar remained unchanged at 99.48 on Friday - the last trading day of the week.
According to Reuters, the Indian currency was trading at 62.10/11 versus its prior close of 61.98/99 on Friday as importers, particularly oil firms, bought the greenback to fulfill month-end payment commitments. “Losses in other Asian currencies versus the dollar also boost sentiment for the pair. Traders say some foreign fund inflows towards debt investment also seen limiting gains in the pair,” said Reuters.
Meanwhile, rupee gained 77 paisa against euro and 76 paisa against Pound Sterling this week. A Euro was valued at Rs 135.91 on Friday, while Pound Sterling was exchanged at Rs 165.50.
BULLION
Gold price went up by Rs 345 per 10 grams this week to close at Rs 48,440 on Friday.
Bullion trading opened on Sunday with gold price fixed at Rs 48,095 per 10 grams.
On Monday, gold became dearer by Rs 260 per 10 grams to Rs 48, 355. The yellow metal, however, lost its shine, losing Rs 85 per 10 grams to close at Rs 48,270 on Tuesday. Gold rallied on Wednesday, as its price increased by Rs 255 per 10 grams to close at Rs 48,525. Though the price remained unchanged on Thursday, the yellow metal became cheaper by Rs 85 per 10 grams to close the week at Rs 48,440 on Friday.
Price of silver, however, went down by Rs 13 per 10 grams over the week. Silver was traded at Rs 754.5 per 10 grams on Friday.
Source: Republica
