WEEKLY MARKET COMMENTARY (July 17-22)
Published On: July 23, 2016 02:40 AM NPT By: Republica | @RepublicaNepal
KATHMANDU, July 23: Nepali rupee lost 21 paisa against US dollar this week as the Indian currency, with which rupee is pegged, lost value against the greenback. Gold price, on the other hand, came down by Rs 255 per 10 grams over the week.
Nepal Rastra Bank (NRB), the central regulatory bank, opened currency trading on Sunday with dollar valued at Rs 107.64.
Rupee gained 3 paisa against US dollar on Monday to settle at 107.61. On Tuesday, rupee depreciated by 16 paisa to settle at 107.77 against the greenback. The local unit gained 1 paisa on Wednesday to close at 107.76 against the dollar. Rupee, however, shed 4 paisa against to 107.80 against the greenback. Rupee lost another 5 paisa against US dollar on Friday to close the week's trading at 107.85.
Rupee gained Rs 1.01 against euro and Rs 2.03 against Pound Sterling over the week. On Friday, a euro exchanged at Rs 118.84, while Pound Sterling was valued Rs 142.47.
Trading opened on Sunday with gold price fixed at Rs 50,410 per 10 grams.
Gold price came down by Rs 255 per 10 grams on Monday to Rs 50,155. On Tuesday, price of the yellow metal increased by Rs 85 per 10 grams to settle at Rs 50,240. Gold price increased by another Rs 85 per 10 grams on Wednesday to settle at Rs 50,325. Gold price, however, came down by Rs 425 per 10 grams to Rs 49,900 on Thursday. Price of gold increased by Rs 255 per 10 grams to close the week's trading at Rs 50,155 on Friday.
Price of silver came down by Rs 17 per 10 grams over the week. On Friday, silver was traded at Rs 763 per 10 grams.
Leave A Comment