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Rupee weakens, gold glitters

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KATHMANDU, April 24: Nepali rupee lost Rs 1.54 against US dollar this week as the Indian currency, with which rupee is pegged, lost value against the greenback. Price of gold, on the other hand, increased by Rs 340 per 10 grams over the week.

CURRENCY

Rupee lost Rs 1.54 against US dollar to close at 101.62 on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, opened currency trading on Sunday with dollar's value fixed at Rs 100.08.Though rupee's value unchanged on Monday, it lost 88 paisa to close at 100.96 on Tuesday. On Wednesday, the local currency gained 9 paisa to settle at Rs 100.87. Rupee rallied on Thursday, gaining 5 paisa to settle at Rs 100.82 against dollar. Rupee lost 80 paisa on Friday to close the week's trading at 101.62.

Meanwhile, rupee lost Rs 1.04 against euro and a whooping Rs 2.16 against Pound Sterling over the week. A euro was exchanged at Rs 109.10 on Friday, while the Pound Sterling was valued Rs 152.40.

BULLION

Gold price increased by Rs 340 per 10 grams to Rs 44,580 this week.

Trading opened on Sunday with price of gold fixed at Rs 44,240 per 10 grams. Gold price increased by Rs 140 per 10 grams on Monday to Rs 44,410. On Tuesday, price of the yellow metal further increased by Rs 85 per 10 grams to close at Rs 44,495. Though gold remained unchanged on Wednesday, its price came down by Rs 255 per 10 grams on Thursday to Rs 44,240. Gold price, however, increased by Rs 340 per 10 grams on Friday to close the week's trading at Rs 44,580.

Similarly, price of silver came down by Rs 4.5 per 10 grams over the week. Silver was traded at Rs 591.5 per 10 grams on Friday.


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