Rupee gains against US dollar, gold prices up

KATHMANDU, March 5: The Nepali rupee gained Rs 2.22 against the US dollar this week as the Indian currency, with which he Nepali rupee is pegged, gained in value against the greenback. Gold prices 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 the value of the US dollar fixed at Rs 110.28.


The rupee gained 18 paisa against the US dollar on Monday to settle at Rs 110.10. The local currency gained a further 33 paisa on Tuesday to close at Rs 109.77. On Wednesday the rupee gained 64 paisa against the US dollar to close at Rs 109.13. The rupee continued rising as it further gained 66 paisa against the greenback on Thursday to Rs 108.47 and another 42 paisa on Friday to close the week's trading at Rs 108.06.

Meanwhile, the Nepali rupee gained Rs 3.91 against the euro and Rs 2.7 against the Pound Sterling over the week. On Friday, a Euro exchanged at Rs 117.48 while the British Pound was valued at Rs 151.97.

BULLION

The bullion market opened on Sunday with gold prices fixed at Rs 48,010 per 10 grams. Though the price of gold remained unchanged on Monday, it increased by Rs 430 per 10 grams on Tuesday to close at Rs 48,440. Prices came down by Rs 855 per 10 grams on Wednesday to settle at Rs 47,585. The yellow metal became dearer by Rs 170 per 10 grams on Thursday to Rs 47,755. The price of 10 grams of gold increased by Rs 685 on Friday to close the week's trading at Rs 48,440.

The price of silver fluctuated during the week but closed on Friday at Rs 621.5 per 10 grams, the same as on Sunday.

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