CURRENCY
Nepali rupee gained Rs 2.65 against US dollar over the week to close at 102.15 on Friday. Nepal Rastra Bank (NRB), the central monetary authority, opened currency trading on Sunday with exchange rate of US dollar fixed at Rs 104.80. [break]
Rupee gained 13 paisa to settle at 104.67 on Monday. Though the local currency remained stable on Tuesday, it gained Rs 1.67 on Wednesday and another Rs 1.64 on Thursday to close at 101.36 on Thursday.
According to Reuters, the Indian currency fell on Thursday, ending five days of gains, as state-run banks likely bought dollars to meet defense needs of the government and as investors booked profit in shares. “The rupee has been on a recovery trail helped by recent steps like the passage of the pension bill in parliament and the central bank providing a concessional swap facility to banks to attract overseas deposits from non-resident Indians, which by some estimates can net around $10 billion, helping ease some of the recent despondency about policy making in India,” Reuters said.
Rupee, however, lost 79 paisa against the greenback on Friday -- the last trading day of the week -- to settle at Rs 102.15.
Meanwhile, rupee gained Rs 1.82 against Euro and Rs 1.77 against pound sterling over the week. A euro was valued Rs 135.77 on Friday, while the Pound Sterling was exchanged at Rs 161.45.
BULLION
Gold became cheaper by Rs 3,000 per 10 grams this week. Bullion trading opened on Sunday with gold priced at Rs 50,840 per 10 grams. Though gold price remained unchanged on Monday, it shed Rs 1,030 per 10 grams to close at Rs 49,810 on Tuesday. Gold continue its losing spree on Wednesday and Thursday as well. The price of yellow metal went down by Rs 510 per 10 grams on Wednesday and Rs 600 per 10 grams on Thursday. On Friday - the last trading day of the week - gold shed another Rs 860 per 10 grams to settle at 47,840.
Price of silver also went down by Rs 81.5 per to grams this week to close at to Rs 806 on Friday.
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