Rupee weakens, gold price down

WEEKLY MARKET COMMENTARY (Nov 22-27)

KATHMANDU, Nov 27: Nepali rupee lost 54 paisa against US dollar this week as the Indian currency, with which rupee is pegged, lost value against the greenback. Gold price 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 value of US dollar fixed at Rs 106.26.

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Rupee weakens, gold unchanged

Rupee gained 6 paisa on Monday to settle at 106.20 against US dollar.  On Tuesday, however, rupee lost 37 paisa to close at 106.57 against the greenback. Rupee shed another 3 paisa on Wednesday to settle at 106.60 against the dollar. Rupee rallied on Thursday, gaining 18 paisa to close at 106.42. The local currency, however, lost 38 paisa against US dollar on Friday to close the week's trading at 106.8.

Meanwhile, rupee gained 22 paisa against euro and Rs 1.44 against Pound Sterling this week. A euro was exchanged at Rs 113.32 on Friday, while the Pound Sterling was valued Rs 160.98.

BULLION

Gold price came down by Rs 85 per 10 grams this week. Trading opened on Sunday with price of gold fixed at Rs 41,580 per 10 grams. Gold price came down by Rs 255 per 10 grams on Monday to settle at Rs 41,325. The yellow metal, however, became dearer by Rs 85 per 10 grams on Tuesday to settle at Rs 41,410. Gold price increased by another Rs 215 per 10 grams on Wednesday to settle at Rs 41,625. The price, however, fell by Rs 130 per 10 grams on Thursday to Rs 41,495. Gold price remained unchanged on Friday to close the week's trading at Rs 41,495.

Meanwhile, price of silver remained unchanged this week at Rs 579 per 10 grams.