Rupee gains value, gold price up

KATHMANDU, May 15:

Rupee gained 25 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, increased by Rs 860 per 10 grams in the domestic market as price of yellow metal went up by in the international market.

CURRENCY

Rupee gained 25 paisa to close at 102.44 against US dollar on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, opened currency trading on Sunday with value of dollar fixed at 102.69.

The local currency gained 9 paisa on Monday to settle at 102.60 against US dollar. Rupee gained another 2 paisa on Tuesday to close at 102.58. Though the value of rupee remained unchanged on Wednesday, it lost 18 paisa against the greenback on Thursday to settle at 102.76. The local currency, however, gained 32 paisa against US dollar to close the week's trading at 102.44 on Friday.

Meanwhile, rupee lost Rs 1.58 against euro and a whopping Rs 3.28 against Pound Sterling over the week. A euro was exchanged at Rs 116.98 on Friday, while British Pound was valued Rs 161.82.

BULLION

Gold price increased by Rs 860 per 10 grams this week.

Trading opened on Sunday with gold price fixed at Rs 44,580 per 10 grams. Though gold price remained unchanged on Monday, it went up by Rs 90 per 10 grams on Tuesday to settle at Rs 44,670. Gold price increased by another Rs 170 per 10 grams on Wednesday to close the day's trading at Rs 44,840.

Gold continued to glitter on Thursday as well as its price increased by Rs 600 per 10 grams to Rs 45,440. Price of gold remained unchanged on Friday to close the week's trading at Rs 45,440 per 10 grams.

Officials of the Federation of Nepal Gold and Silver Dealers Associations said gold price went up in the domestic market in line with price movement in the international market. "Gold price has been increasing in the international market due to strong US economy," Mani Ratna Shakya, president of the federation, said.

Shakya informed that gold was being traded at one month's high of Rs 45,440 per 10 grams.

Meanwhile, price of silver increased by Rs 21 per 10 grams over the week. Silver was traded at Rs 630 per 10 grams on Friday.

Source: Republica