Currency
Rupee shed 91 paisa against US dollar over the week. This rendered imports expensive, but raised the income of remittances receivers as well as exporters. On Friday, a dollar was valued Rs 90.06.
Nepal Rastra Bank (NRB), country´s monetary authority, set exchange rage of US dollar at Rs 89.15 when the market opened for trading on Sunday. Rupee lost 15 paisa on Monday to close at Rs 89.30. The local currency bounced back gaining 8 paisa on Tuesday and another 43 paisa on Wednesday to close the market at 88.79 respectively.
According to Reuters, the Indian currency dropped to its lowest level in 10 months on Wednesday as persistent dollar demand from defense and oil firms weighed while a fall in local shares added to its woes.
As a result, rupee lost a whopping Re 1 to close at Rs 89.79 on Thursday. The local currency weakened by another 27 paisa on Friday to close the week´s trading at Rs 90.06.
Likewise, rupee shed Rs 1.55 against euro and a whopping Rs 2.1 against a British Pound over the week. Euro was exchanged at Rs 116.87, while British Pound was valued Rs 136.68 on Friday.
Bullion
Gold became expensive by Rs 1,500 per 10 grams over the week mainly due to price fluctuation in the international market.
Bullion trading opened this week with the yellow metal priced at Rs 43,380 per 10 grams on Sunday. Gold price increased by Rs 175 per 10 grams on Monday to close at Rs 43,555 per 10 grams. The price, however, saw marginal drop of Rs 85 per 10 grams on Tuesday and traded at Rs 43,470 per 10 grams. The yellow metal gained Rs 255 per 10 grams on Wednesday and another Rs 170 per 10 grams on Thursday. The price jumped by a massive Rs 985 per 10 grams to close at Rs 44,880 per 10 grams on Friday - the last trading day of the week.
Silver also became dearer by Rs 21.5 per 10 grams this week. On Friday, silver was traded at Rs 763 per 10 grams.
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