Currency
Nepali rupee vis-à-vis a US dollar devalued by 60 paisa this week, as the greenback gained against the Indian currency with which the domestic currency is pegged. A dollar was exchanged at Rs 76.25 on Friday.
Nepal Rastra Bank, the monetary authority, had fixed exchange rate for a US dollar at Rs 75.65 on Sunday. On the back of greenback recording a sharp overnight gain, Nepali currency devalued to Rs 76.65 per dollar on Monday. However, the exchange rate fluctuated in favor of Nepali currency, with rupee gaining up to 65 paisa over the next four days. On Friday, it lost 25 paisa against a dollar though.
Likewise, Nepali currency recorded a sharp devaluation of Rs 3.53 vis-à-vis a pound sterling this week. On Friday, a pound was exchanged at Rs 124.96. Rupee, however, strengthened by 61 paisa against euro, which was exchanged at Rs 106.9 on Friday.
Bullion
Gold price dropped marginally by Rs 2 per gram over the week following the price trend in the international market. The yellow metal was traded at Rs 23,855 per 10 grams on Friday.
According to Nepal Gold and Silver Dealers´ Association, gold was traded at Rs 23,875 on Sunday. This rate prevailed on Monday as well. On Tuesday, it dropped by Rs 4 per gram and the price of the day, which was Rs 23,835 per 10 grams, was not changed on Wednesday also. Gold price inched up by Rs 2 per gram over the next two days and the market closed at Rs 23,855 per 10 grams on Friday.
Likewise, the price of silver dropped to Rs 380 from Rs 381 per 10 grams this week. As Nepal meets its bullion requirements through imports, any fluctuation in price of gold in the international market directly impacts domestic rates.
Related story
Rupee weakens, gold unchanged
