Price of gold, on the other hand, decreased by Rs 685 per 10 grams in the domestic market, after price of the yellow metal declined in international bullion market.[break]
Currency
Nepal Rastra Bank (NRB), the central monetary authority, had fixed the exchange rate of US dollar at Rs 85.96 when the market opened for trading on Sunday. The local currency gained 6 paisa and was exchanged at Rs 85.90 on Monday. Though the exchange rate remained unchanged on Tuesday, rupee lost 80 paisa and closed at Rs 86.70 on Wednesday as Indian currency weakened on the day tracking losses in the domestic share market.
According to news agencies, the Indian rupee strengthened on Wednesday helped by gains in domestic share markets and the euro, and as the trade deficit did not widen as much as some analysts had feared.
The local currency rallied on Thursday gaining 26 paisa, but again lost 10 paisa to close the week at Rs 86.55.
Similarly, rupee weakened by 86 paisa against Euro and 88 paisa against British Pound over the week. On Friday, Euro was exchanged at Rs 115.93 while British Pound was valued Rs 134.24.
Bullion
Gold price went down by Rs 685 per 10 grams over the week. Bullion trading opened in domestic market with gold priced at Rs 49,985 per 10 grams on Sunday. Though the price remained unchanged on Monday, it went down by Rs 430 per 10 grams on Tuesday and another Rs 85 per 10 grams to close at Rs 49,640 on Wednesday. Gold lost its luster on Thursday as well, losing Rs 85 per 10 grams to close at Rs 49,555. The yellow metal lost further Rs 255 per 10 grams on Friday and closed the week´s trading at Rs 49,300.
Similarly, price of silver went down by Rs 21.50 over the week. Silver was traded at Rs 934.50 per 10 grams on Friday.
Related story
Rupee weakens, gold unchanged
