weekly market commentary (Feb 7- 12)
KATHMANDU, Feb 13: Nepali rupee lost 88 paisa against US dollar this week as the Indian currency, with which rupee is pegged, lost value against the greenback. Gold price, on the other hand, increased by Rs 1,890 per 10 grams over the week.
CURRENCY
Rupee depreciates against dollar, gold glitters
Nepal Rastra Bank (NRB), the central regulatory bank, opened currency trading on Sunday with value of dollar fixed at Rs 108.60. Rupee gained 7 paisa on Monday to settle at 108.53 against US dollar.
0 grams on Frida
On Tuesday, however, rupee depreciated by 34 paisa to close at 108.87 against the greenback. The local currency lost another 25 paisa on Wednesday to close at 109.12 against dollar. Rupee rebounded on Thursday, gaining 22 paisa against dollar to settle at 108.90.
The local unit lost 58 paisa against the greenback on Friday to close the week's trading at record low of 109.48.
Rupee lost a whopping Rs 2.52 against euro and 43 paisa against Pound Sterling this week. On Friday, a euro exchanged at Rs 124.04, while Pound Sterling was valued at Rs 158.11.
BULLION
Market opened on Sunday with price of gold fixed at Rs 45,695 per 10 grams. Gold price came down by Rs 255 per 10 grams on Monday to settle at Rs 45,440. On Tuesday, however, price of the yellow metal increased by Rs 855 per 10 grams to close at 46,295. Though gold price remained unchanged on Wednesday, it increased by Rs 430 per 10 grams Rs 46,725 on Thursday. Price of the yellow metal increased by another Rs 860 per 10 grams on Friday to close the week's trading at Rs 47,585.
Similarly, price of silver increased by Rs 26 per 10 grams this week. Silver was traded at Rs 639 per 1
