KATHMANDU, June 5: Nepali rupee lost 53 paisa against US dollar this week as the Indian currency, with which rupee is pegged, lost value against the greenback. Meanwhile, price of gold came down by Rs 255 per 10 grams over the week.
CURRENCY
Rupee lost 53 paisa against US dollar to close at 102.89 on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of dollar fixed at Rs 102.36.Though rupee lost 4 paisa on Monday to settle at 102.40 against US dollar, it gained 23 paisa to close at 102.17 on Tuesday. On Wednesday, however, rupee lost 43 paisa to close at 102.60 against US dollar. Rupee lost another 17 paisa against the greenback on Thursday to settle at 102.77. On Friday, the last trading day of the week, rupee lost 12 paisa against US dollar to settle at 102.89.
According to Reuters, the Indian rupee will weaken to its lowest in several years over the next 12 months as the economy struggles to pick up momentum and on expectations that an impending rise in US interest rates will keep the dollar on a steadily strengthening path.
Meanwhile, rupee lost a whopping Rs 4.4 against euro and Rs 2.08 against Pound Sterling over the week. A euro was exchanged at Rs 116.71 on Friday, while the British Pound was valued Rs 158.61.
BULLION
Gold price came down by Rs 255 per 10 grams to Rs 44,325 this week.
Trading opened on Sunday with price of gold fixed at Rs 44,580 per 10 grams. The price fell by Rs 85 per 10 grams to Rs 44,495 on Monday. Though the price remained unchanged on Tuesday, it went up by Rs 175 per 10 grams to Rs 44,670 on Wednesday. Gold price remained unchanged on Thursday. The price, however, fell by Rs 345 per 10 grams to close the week's trading at Rs 44,325 on Friday.
Likewise, price of silver came down by Rs 17 per 10 grams this week. Silver was traded at Rs 604.5 per 10 grams on Friday.
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