Currency
Nepali rupee fell by whopping Rs 1.26 and hit fresh record low against a US dollar over this week. This rendered imports expensive, but also increased income of remittances receivers and exporters. On Friday, a dollar was valued at Rs 90.17.
Nepal Rastra Bank (NRB), country´s monetary authority, had set the exchange rate of dollar at Rs 88.91 when the market opened this week on Sunday. Though rupee gained a paisa on each day for the next two trading days, it shed 41 paisa overnight on Wednesday after Indian currency fell sharply amid rise in demand of greenback in India. Rupee further fell by 74 paisa on Thursday and shed another 13 paisa against a dollar when the market closed on Friday.
Rupee weakened by 39 paisa against a euro and 74 paisa against a pound sterling over this week. A euro exchanged at Rs 112.05, while a pound sterling was valued Rs 139.99 on Friday.
Bullion
Gold price went up by Rs 8.5 per gram in the domestic market this week after euro zone debt crisis turned investors jittery, exerting pressure on euro as well as gold. On Friday, gold was traded at Rs 47,325 per ten grams.
Bullion trading had opened this week with gold priced at Rs 47,240 per ten grams on Sunday. Although international prices recorded nominal upheavals, dealers left the prices unchanged till Tuesday.
On Wednesday, consumers found gold price inching down by Rs 85 per ten grams as Nepal Gold and Silver Dealers Association (Negosida) lowered the price in line with the international trend. Though the price shot up overnight by Rs 425 per ten grams on Thursday, yellow metal shed Rs 255 per ten gram when the market closed on Friday.
The price of silver, on the other hand, dropped by Rs 4 per ten grams this week. On Friday, silver was priced Rs 887.50 per ten grams.
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