Currency
Nepali currency gained a whopping Rs 1.54 against a US dollar this week, as demand for greenback dropped in the Indian market. This reduced prices of imports but also shrank income of exporters and remittance receivers. A dollar was exchanged at Rs 73.31 on Friday.
Nepal Rastra Bank had fixed the exchange rate of a dollar at Rs 74.85 on Sunday. As Indian currency strengthened against dollar, rupee gained 44 paisa against the greenback by Tuesday. Dollar lost its weight by additional 55 paisa on Thursday, as compared with Tuesday. Rupee further gained 59 paisa against a dollar overnight on Friday.
Likewise, Nepali currency also recorded a substantial gain of Rs 2.4 against a euro and Rs 3.77 against a pound sterling this week. According to NRB, euro´s exchange rate closed at Rs 105.47 on Friday, while a pound sterling was exchanged at Rs 116.95 on the day.
Bullion
Gold became expensive by Rs 13 per gram in the domestic market this week, as sharp rise in global price of the yellow metal nullified the impact of rupee´s gain against dollar. On Friday, gold was traded at Rs 26,880 per 10 grams in the country.
Nepal Gold and Silver Dealers´ Association, which sets domestic bullion prices based on price movement in the New York Commodity Mercantile Exchange, had opened the market at Rs 26,750 per 10 grams on Sunday. The price rallied to Rs 27,135 per 10 grams on Tuesday. But it spiraled down by Rs 85 per 10 grams on Wednesday. On Thursday, the price jumped, but it dropped by Rs 255 per 10 grams overnight on Friday.
Silver price, too, inched up to Rs 450 per 10 grams in the domestic market this week.
Related story
Rupee weakens, gold loses shine
