KATHMANDU, Aug 28: Nepal Rastra Bank (NRB) acquired gold worth Rs 82.43 billion by the end of fiscal year 2023/24.
The records with the NRB show that the central bank invested the aforementioned amounts in gold as of now. The NRB’s investment in gold increased 25.3 percent in the last fiscal year. Over the period, the central bank injected an additional amount of Rs 16.61 billion to purchase the precious yellow metal.
Revised interest rate corridor system introduced
According to the NRB officials, the increased market price of gold along with the new purchase has led to an increased valuation of gold with the central bank. The price of gold surged to a record high of Rs 153,100 per tola in the domestic market on Wednesday.
In recent times, the price of gold has been making new records almost every day. According to international media, central banks of many countries have started investing hefty amounts of money to purchase gold.
In the domestic market of Nepal, the price of gold surged by Rs 40,000 per tola in the past one year, according to the records with the Federation of Nepal Gold and Silver Dealers’ Association. The NRB considers gold along with silver, foreign currency, foreign securities, and foreign bills of exchange as reserves while issuing currency notes.
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