KATHMANDU, Jan 15:WEEKLY MARKET COMMENTARY (Jan 10-15)
The Nepali rupee lost 70 paisas against the US dollar this week as the Indian currency -- with which the rupee is pegged to -- also lost value against the greenback. However, gold prices came down by Rs 85 per 10 grams over the week.
CURRENCY
Nepal Rastra Bank (NRB), the central regulatory bank, opened currency trading on Sunday with the value of the US dollar fixed at Rs 107.13.
The rupee gained 21 paisas against the US dollar which settled at Rs 106.92 per dollar on Monday. However, the local currency lost 14 paisas against the greenback on Tuesday to settle at Rs 107.06 per dollar. The rupee further lost 27 paisas against the US dollar on Wednesday to Rs 107.33. On Thursday, the rupee gained 13 paisas against the US dollar to settle at Rs 107.20.
The rupee lost 63 paisa against the greenback to close the week's trading at Rs 107.83 a dollar on Friday.
Likewise, the rupee lost Rs 1.15 against the euro but gained Rs 1.24 against the pound sterling this week. A euro was exchanged at Rs 117.70 on Friday, while a pound sterling was valued at Rs 155.41.
BULLION
Gold prices came down by Rs 85 per 10 grams over this week. The Federation of Nepal Gold and Silver Dealers' Association opened bullion trading on Sunday with the price of gold fixed at Rs 42,695 per 10 grams.
Gold prices increased by Rs 85 per 10 grams on Monday to Rs 42,780. On Tuesday, prices dropped by Rs 170 per 10 grams to Rs 42,610. The price of the yellow metal further dropped by Rs 515 per 10 grams on Wednesday to close at Rs 42,095. The price of gold went up by Rs 515 per 10 grams on Thursday to Rs 42,610. Prices remained unchanged on Friday to close the week's trading at Rs 42,610.
The price of silver increased by Rs 4 per 10 grams over the week. On Friday, silver was traded at Rs 583 per 10 grams.
Rupee strengthens, gold price up
