As a result, gold price went up in the domestic market. The price rise of gold was also fuelled by the rise in the price in the international market. [break]
Currency
Nepali currency shed 15 paisa against a US dollar this week, as greenback strengthened against Indian currency with which Nepali rupee is pegged. A dollar was exchanged at Rs 74.30 on Friday.
Nepal Rastra Bank had fixed the exchange rate of a dollar at Rs 74.15 on Sunday. Rupee maintained its value firm at this level for the next two days and gained 5 paisa on Wednesday. But it lost 35 paisa overnight on Thursday and gained 20 paisa on Friday.
Likewise, Nepali currency tumbled by 26 paisa against a pound sterling the week. A pound sterling was exchanged at Rs 120.75 on Friday. However, rupee gained 62 paisa against a euro this week. On Friday, a euro was exchanged at Rs 104.30.
Bullion
Gold became expensive by Rs 25.50 per gram in the domestic market this week, as rise in international price of gold along with weakening of Nepali rupee jacked up its import price. On Friday, gold was traded at Rs 27,135 per 10 grams in the country.
Nepal Gold and Silver Dealers´ Association, which sets domestic bullion prices based on price movement in the New York Commodity Mercantile Exchange, had opened the market at Rs 26,880 per 10 grams on Sunday. The price rallied throughout the week, jumping Rs 85 on Monday, Rs 60 on Tuesday and Rs 65 on Wednesday. Even though the price remained unchanged on Thursday, gold became expensive by additional Rs 45 per 10 grams on Friday, when the market closed this week.
Silver price, on the other hand, dropped to Rs 454.50 per 10 grams in the domestic market this week.
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