WEEKLY MARKET COMMENTARY (June 5-10)
KATHMANDU, June 10: Nepali rupee gained 96 paisa against US dollar this week as the Indian currency, with which rupee is pegged, gained value against the greenback. Gold price, on the other hand, went up by Rs 515 per 10 grams over the week.
CURRENCY
Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of dollar fixed at Rs 108.07.
Rupee strengthens, gold price down
Rupee gained 16 paisa on Monday to settle at 107.91 against US dollar. On Tuesday, rupee appreciated by 47 paisa to end the day at 107.44 against the dollar. The local currency gained another 32 paisa on Wednesday to 107.12 against the greenback. On Thursday, rupee gained 6 paisa to close at 107.06 against the dollar. Rupee, however, lost 5 paisa against US dollar to close the week's trading at 107.11 on Friday.
Meanwhile, rupee lost a whopping Rs 1.24 against euro but gained Rs 1.12 against Pound Sterling over the week. On Friday, a euro exchanged at Rs 121.65 while Pound Sterling was valued Rs 154.81.
BULLION
Bullion market opened on Sunday with gold price fixed at Rs 47,410 per 10 grams.
Price of gold came down by Rs 85 per 10 grams on Monday to Rs 47,325. Gold price remained unchanged until Wednesday. On Thursday, however, price of the yellow metal increased by Rs 345 per 10 grams to settle at Rs 47,670. Gold price increased by another Rs 255 per 10 grams to close the week's trading at Rs 47,925 on Friday.
Similarly, price of silver went up by Rs 25.5 per 10 grams this week. On Friday, silver was traded at Rs 673 per 10 grams. -
