WEEKLY MARKET COMMENTARY (Dec 6-11)
KATHMANDU, Dec 11: Nepali rupee gained 12 paisa against US dollar this week as the Indian currency, with which rupee is pegged, strengthened against the greenback. Price of gold, on the other hand, fell by Rs 600 per 10 grams over the week.
CURRENCY
Nepal Rastra Bank (NRB), the central regulatory authority, had opened currency trading on Sunday with value of US dollar fixed at Rs 107.23.
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Rupee, however, lost 69 paisa against euro and 42 paisa against Pound Sterling this week. A euro was exchanged at Rs 117.45 on Friday, while the British Pound was valued Rs 162.63.
BULLION
Gold price came down by Rs 600 per 10 grams this week. Trading began on Sunday with price of gold fixed at Rs 42,095 per 10 grams.
Price of the precious metal fell by Rs 85 per 10 grams to Rs 42,010 on Monday. Gold price dropped by another Rs 345 per 10 grams on Tuesday to settle at Rs 41,665. On Wednesday, however, the yellow metal became dearer by Rs 175 per 10 grams to Rs 41,840. Though price of gold remained unchanged on Thursday, it came down by Rs 345 per 10 grams on Friday to close the week's trading at Rs 41,495.
Similarly, price of silver came down by Rs 8 per 10 grams over the week. Silver was traded at Rs 579 per 10 grams on Friday.
