Rupee strengthens, gold glitters

KATHMANDU, Jan 10:

Nepali rupee gained 98 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 170 per 10 grams.

CURRENCY

Rupee gained 98 paisa against US dollar to close at 100.58 on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of dollar fixed at Rs 101.56.

Though the value of rupee remained unchanged n Monday, it lost 20 paisa to settle at 101.76 on Tuesday. Rupee shed 26 paisa on Wednesday to close at 102.02 against US dollar. The local currency rallied on Thursday, gaining 64 paisa to settle at 101.38. Rupee gained another 80 paisa on Friday to close the week´s trading at 100.58.

Meanwhile, rupee gained a massive Rs 4.02 against euro and Rs 5.2 against Pound Sterling this week. On Friday, a euro was exchanged at Rs 118.39 on Friday, while the Pound Sterling was valued Rs 151.55.

BULLION

Gold price increased by Rs 170 per 10 grams this week. Trading opened on Sunday with gold price fixed at Rs 44,240 per 10 grams.

Price of the yellow metal increased by Rs 170 per 10 grams on Monday to settle at Rs 44,410. Gold price increased further Rs 515 per 10 grams on Tuesday to close at Rs 44,925. Gold continued its gaining streak on Wednesday as well, as its price went up by Rs 255 per 10 grams to settle at Rs 45,180. However, price came down by Rs 425 per 10 grams on Thursday to close at 44,755. Gold price went down by another Rs 345 per 10 grams on Friday, to close the week´s trading at Rs 44,100.

Meanwhile, price of silver increased by Rs 4 per 10 grams this week. On Friday, silver was traded at Rs 600 per 10 grams.

Source: Republica