The price of gold however remained unchanged over the week.[break]
Currency
Nepali rupee shed 9 paisa against a US dollar over the week, making imports dearer but also raising receipts of exporters and remittance receivers.
Nepal Rastra Bank (NRB), the central monetary authority, opened trading on Sunday with exchange rate fixed at Rs 87.50. The local currency weakened by 65 paisa to close at Rs 88.15 on Monday and another 5 paisa on Tuesday. Rupee, however, gained 40 paisa on Wednesday after the Indian currency strengthened as global risk rally boosted Asian currencies and shares. Though the local currency weakened to close at Rs 87.94, it bounced back on Friday, gaining 35 paisa to close the week at Rs 87.59.
Rupee, on the other hand, gained Rs 1.39 paisa against British Pound and 28 paisa against Euro over the week. A British Pound was exchanged at Rs 131.37 on Friday, while Euro was valued Rs 114.07.
Bullion
Gold price remained unchanged over the week at Rs 48,440 per 10 grams.
Nepal Gold and Silver Dealers Association opened bullion trading on Sunday with gold priced at Rs 48,440 per 10 grams. Gold became expensive by Rs 85 on Monday after the yellow metal became dearer in the international market. The price remained unchanged till Wednesday. It, however, gained Rs 85 per 10 grams on Thursday. Gold shed Rs 170 per 10 grams on Friday to close at Rs 48,440 per 10 grams.
Price of silver also remained unchanged this week. Silver was traded on Friday at Rs 904.50 per 10 grams.
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