WEEKLY MARKET COMMENTARY

Rupee appreciates, gold shines

Published On: July 30, 2016 12:40 AM NPT By: Republica


KATHMANDU, July 30: Nepali rupee gained 10 paisa against US dollar this week as the Indian currency, with which rupee is pegged, gained value against the greenback. Gold price, on the other hand, increased by Rs 430 per 10 grams over the week.
 
CURRENCY
Nepal Rastra Bank (NRB), the central regulatory bank, opened currency trading on Sunday with dollar's value fixed at Rs 107.68.

Rupee gained 4 paisa on Monday to settle at 107.64 against the US dollar. On Tuesday, however, rupee shed 30 paisa to close trading at Rs 107.94 against the dollar. The local currency further lost 2 paisa on Wednesday to 107.96 against the greenback. Rupee, however gained, 18 paisa on Thursday to close at 107.78 against the dollar. The local unit appreciated by 20 paisa against US dollar on Friday to close the week's trading at 107.58.

Rupee lost 63 paisa against euro and 6 paisa against Pound Sterling this week. On Friday, a euro exchanged at Rs 119.42 while British Pound was valued Rs 141.78.
   
BILLION
Trading opened on Sunday with gold price fixed at Rs 50,070 per 10 grams.

Though the price came down by Rs 170 per 10 grams on Monday to settle at Rs 49,900, it went up by Rs 170 per 10 grams to Rs 50,070 on Tuesday.

There was no price movement on Wednesday. However, price of gold increased by Rs 470 per 10 grams on Thursday to Rs 50,500. Gold price remained unchanged on Friday to close the week's trading at Rs 50,500.

Price of silver increased by Rs 17 per 10 grams over the week. On Friday, silver was traded at Rs 780 per 10 grams. 


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