WEEKLY MARKET COMMENTARY (March 27-April 1)
KATHMANDU, April 1: Nepali rupee gained 63 paisa against US dollar this week as the Indian currency, with which rupee is pegged, gained value against the greenback.
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Rupee strengthens, gold price down
Gold price, on the other hand, came down by Rs 345 per 10 grams over the week.
CURRENCYNepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of dollar fixed at Rs 106.92.
Though the rupee's value remained unchanged on Monday, it strengthened by 7 paisa against on Tuesday to settle at 106.85 against the dollar. Rupee gained another 17 paisa against the greenback on Wednesday to close at 106.68. The local currency continued its winning streak on Thursday as well, gaining 21 paisa to 106.47. Rupee appreciated by 18 paisa against on Friday to close the week's trading at 106.29 against the dollar.
However, rupee lost Rs 1.38 against euro and Rs 1.67 against Pound Sterling over the week. On Friday, a euro exchanged at Rs 120.78 while Pound Sterling was valued Rs 152.86.
BULLION
Bullion market opened on Sunday with price of gold fixed at Rs 46, 640 per 10 grams. Gold price fell by Rs 175 per 10 grams on Monday to Rs 46,465. Though the price remained unchanged on Tuesday, it increased by Rs 260 per 10 grams to Rs 46,725 on Wednesday. Price of the yellow metal, however, went down by Rs 430 per 10 grams to Rs 46,295 on Thursday. Gold price remained unchanged on Friday to close the week's trading at Rs 46,295 per 10 grams.
Price of silver came down by Rs 8.5 per 10 grams over the week. On Friday, silver was traded at Rs 609 per 10 grams.
