Rupee strengthens, gold price down

Published On: July 15, 2016 11:45 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, July 15: Nepali rupee gained 78 paisa against US dollar this week as the Indian currency, with which rupee is pegged, appreciated against the greenback. Gold price, on the other hand, came down by Rs 600 per 10 grams over the week.

Nepal Rastra Bank (NRB), the central regulatory bank, opened currency trading on Sunday with dollar's value fixed at Rs 108.11.

Rupee gained 2 paisa on Monday to settle at 108.09 against the dollar. On Tuesday, rupee gained another 32 paisa against the greenback to end the day's trading at 107.77. Rupee ended at 10.73 against the dollar on Wednesday, posting a gain of 4 paisa. The local unit continued its gaining streak on Thursday as well, as its value increased by 1 paisa against the dollar. Rupee gained another 39 paisa to close the week's trading at 107.33 against the greenback on Friday.

Rupee gained 44 paisa against euro bust lost a whopping Rs 2.21 against Pound Sterling over the week. On Friday, a euro exchanged at Rs 119.27 while British Pound was valued Rs 142.08.
Trading opened on Sunday with price of gold fixed at Rs 50,585 per 10 grams.

Though the price remained unchanged at Rs 50,585 per 10 grams on Monday and Tuesday, it came down by Rs 175 per 10 grams on Wednesday to Rs 50,410. On Thursday also, gold price fell by Rs 85 per 10 grams to Rs 50,325. Gold lost shine on Friday as well, as it became cheaper by Rs 340 per 10 grams to Rs 49,985.

Price of silver, however, remained unchanged at Rs 776 per 10 grams this week.


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