Currency
Rupee lost 15 paisa against US dollar over the week to close at Rs 87.30 on Friday. Weakening of rupee increased import costs, but raised receipt of exporters as well as remittance receivers.
Currency trading opened this week with exchange rate of rupee against US dollar fixed at Rs 87.15 on Sunday. Rupee lost 8 paisa to close at Rs 87.23 on Monday after Indian currency, with which rupee is pegged, weakened following drop in inflow of US dollar in India. Rupee, however, gained 32 paisa to settle at Rs 86.91 on Tuesday. Though rupee remained constant on Wednesday, it shed a whopping 37 paisa on Thursday, due to weakening of Indian currency, to close at Rs 87.28. The local currency lost another 2 paisa on Friday, the final trading day of the week, to close at Rs 87.30.
According to agencies, Indian currency has weakened since the announcement of budget for fiscal year 2013-14 that largely disappointed investors.
Nepali rupee gained 99 paisa against Euro, but lost 29 paisa against British Pound this week. On Friday, Euro was exchanged at Rs 113.43, while British Pound was valued Rs 132.7.
Bullion
Gold became cheaper by Rs 175 per 10 grams over the week. Bullion trading opened this week with gold priced at Rs 48,785 per 10 grams on Sunday. The yellow metal remained unchanged on Monday and also on Tuesday, which was a public holiday. It, however, became cheaper by Rs 85 per ten grams to close at Rs 48,700 on Wednesday.
Though gold price increased by Rs 125 per 10 grams on Thursday, it again dropped by Rs 215 per 10 grams a day later to close at Rs 48,610 per 10 grams on Friday.
Price of silver, however, remained unchanged at Rs 891.5 per 10 grams this week.
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