Currency
Nepali currency gained 40 paisa against a US dollar this week, as greenback dropped against Indian currency with which Nepali rupee is pegged. A dollar was exchanged at Rs 73.10 on Friday.
Nepal Rastra Bank had fixed the exchange rate of a dollar at Rs 73.50 on Sunday. As Indian currency strengthened against dollar, rupee gained 60 paisa against the greenback by Tuesday. Rupee, however, weakened against a dollar by 30 paisa by Thursday, but it gained 10 paisa when the market closed on Friday.
However, Nepali currency tumbled against euro by Re 1 and a pound sterling by Rs 1.64 this week. According to NRB, euro´s exchange rate closed at Rs 106.24 on Friday, while a pound sterling was exchanged at Rs 119.03 on the day.
Bullion
Gold became cheaper by Rs 4 per gram in the domestic market this week, as currency gained annulled the gains it posted in the international price. On Friday, gold was traded at Rs 27,180 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 27,220 per 10 grams on Sunday. The price rallied to Rs 27,350 per 10 grams on Monday and further jumped to Rs 27,550 on Tuesday. But gold prices soon spiraled down to Rs 27,090 on Wednesday. It gained Rs 190 per 10 grams when the market closed on Friday.
Silver price, on the other hand, inched up to Rs 463 per 10 grams in the domestic market this week.
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