Rupee gains value, gold prices down

KATHMANDU, July 4:

The Nepali rupee gained 11 paisa against the US dollar this week as the Indian currency -- with which it is pegged with -- gained in value against the greenback. Meanwhile, the price of gold came down by Rs 345 per 10 grams over the week.

CURRENCY

The rupee gained 8 paisa on Friday against the US dollar to close at Rs 101.94. Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with the value of the dollar fixed at Rs 102.05.

Rupee lost 8 paisa on Monday against US dollar to close at Rs 102.13. It further lost 33 paisa against the dollar on Tuesday to settle at Rs 102.46. The local currency, however, gained 24 paisa against the greenback on Wednesday to close at Rs 102.22. On Thursday, the rupee gained 20 paisa against the dollar to end at Rs 102.02.

Meanwhile, the rupee gained Rs 1.43 against the Euro and Rs 1.54 against the British Pound over the week. A Euro was exchanged at Rs 112.91 on Friday, while one British Pound was valued Rs 159.17.

BULLION

Gold prices came down by Rs 345 per 10 grams during the week to end at Rs 43,725 per 10 grams. The Federation of Nepal Gold and Silver Dealers' Association opened bullion trading on Sunday with the price of gold fixed at Rs 44,070 per 10 grams.

Gold prices increased by Rs 255 per 10 grams on Monday to Rs 44,325. On Tuesday, the price of gold dropped by Rs 255 per 10 grams to Rs 44,070.

Though the price of the yellow metal remained unchanged on Wednesday, it came down by Rs 260 per 10 grams on Thursday to Rs 43,810. Gold prices further dropped by Rs 85 per 10 grams on Friday to close the week's trading at 43,725.

Meanwhile, silver prices came down by Rs 4 per 10 grams over this week. Silver was traded at Rs 587.5 per 10 grams on Friday.

Source: Republica