WEEKLY MARKET COMMENTARY (Dec 20-25)
KATHMANDU, Dec 25: Nepali rupee gained 26 paisa against US dollar this week as the Indian currency, with which rupee is pegged, gained value against the greenback. Similarly, price of gold went up by Rs 255 per 10 grams over the week.CURRENCY
Nepal Rastra Bank (NRB), the central regulatory bank, opened currency trading on Sunday with value of US dollar fixed at Rs 106.50.
Rupee lost 2 paisa to settle at 106.52 against US dollar on Monday. On Tuesday, rupee gained 17 paisa against the greenback to close at 106.35. However, the local currency lost 8 paisa settle at 106.43 against US dollar on Wednesday. Rupee gained 33 paisa against US dollar on Thursday to close at 106.10. The local unit, however, lost 14 paisa against US dollar on Friday to close the week's trading at 106.24.
However, rupee lost Rs 1.17 against euro but gained 89 paisa against Pound Sterling this week. A euro was exchanged at Rs 116.43 on Friday, while Pound Sterling was valued Rs 158.07.
BULLION
Gold price increased by Rs 255 10 grams this week. Trading on Sunday with price of gold fixed at Rs 41,155 per 10 grams.
Price of gold increased by Rs 85 per 10 grams to Rs 41,240 on Monday. Gold price went up by another Rs 340 per 10 grams on Tuesday to close the trading at Rs 41,580. On Wednesday, price of the yellow metal came down by Rs 170 per 10 grams to settle at Rs 41,410. The price further came down by Rs 85 per 10 gram on Thursday to Rs 41,325. Price of gold increased by Rs 85 per 10 grams on Friday to close at Rs 41,410 on Friday - the last trading day of the week.
However, price of silver remained unchanged this week. On Friday, silver was traded at Rs 579 per 10 grams.