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Weekly market commentary: Rupee weakens, gold price down

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KATHMANDU, May 23: Nepali rupee weakened by 13 paisa against US dollar over the past week as the Indian currency, with which rupee is pegged, lost value against the greenback. Gold price, on the other hand, came down by Rs 345 per 10 grams this week.

CURRENCY

Rupee lost 13 paisa against US dollar this week.




Nepal Rastra Bank, the central regulatory bank, opened currency trading on Sunday with the value of US dollar fixed at Rs 102.03. Rupee gained 11 paisa against US dollar to close at 101.92 on Monday. The local currency, however, lost 14 paisa against the greenback on Tuesday to settle at 102.06. Rupee lost another 2 paisa against US dollar on Wednesday to close at 102.08. On Thursday, rupee lost 27 paisa to settle at 102.35 against greenback. Rupee, however, gained 19 paisa against dollar on Friday to close the week’s trading at 102.16.
Meanwhile, rupee gained Rs 1.83 against euro and 57 paisa against Pound Sterling this week. While euro was exchanged at Rs 113.99 on Friday, Pound Sterling was valued Rs 159.97.

BULLION


Related story

Rupee strengthens, gold price up



Gold Price came down by Rs 345 per 10 grams this week. Federation of Nepal Gold and Silver Dealers Association opened bullion trading on Sunday with price of gold fixed at Rs 45,440 per 10 grams.



Price of gold remained unchanged at Rs 45,440 per 10 grams until Tuesday. The price, however, came down by Rs 260 per 10 grams on Wednesday to settle at Rs 45,180. Though price of the yellow metal remained unchanged on Thursday, it went down by Rs 85 per 10 grams to close the week’s trading at Rs 45,095 on Friday.



Meanwhile, price of silver also came down by Rs 13 per 10 grams this week. On Friday, silver was traded at Rs 630 per 10 grams.

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