Rupee weakens against US dollar, gold price down

KATHMANDU, July 10:

Nepali rupee weakened by 7 paisa against US dollar this week as the Indian currency, with which rupee is pegged, lost value against the greenback. Price of gold, on the other hand, came down by Rs 345 per 10 grams this week.

CURRENCY

Rupee lost 7 paisa against US dollar to close at 101.88 on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of dollar fixed at Rs 101.81.

Though rupee's value remained unchanged on Monday, it lost 5 paisa to close at 101.86 against dollar on Tuesday. Rupee, however, gained 8 paisa on Wednesday to settle at 101.78 against greenback. The local currency lost 16 paisa against US dollar on Thursday to 101.94 but gained 6 paisa the next day to close the week's trading at 101.88 against US dollar.

Meanwhile, rupee gained 84 paisa against euro and Rs 2.45 against Pound Sterling this week. A euro was exchanged at Rs 112.33 on Friday, while the Pound Sterling was valued Rs 156.72.

BULLION

Gold price came down by Rs 345 per 10 grams to Rs 43,295 this week. Trading opened on Sunday with price of gold fixed at Rs 43,640 per 10 grams.

Gold price went up by Rs 85 per 10 grams on Monday to close at Rs 43,725. On Tuesday, however, the price came down by Rs 170 per 10 grams to settle at Rs 43,555. Price of the yellow metal further came down by Rs 260 per 10 grams on Wednesday to Rs 43,295. Gold price remained unchanged on the remaining two days to close the week's trading at Rs 43,295 per 10 grams on Friday.

Meanwhile, price of silver came down by Rs 8.5 per 10 grams this week. On Friday, silver was traded at Rs 579 per 10 grams.

Source: Republica