KATHMANDU, March 28: Nepali rupee shed 34 paisa against US dollar this week as the Indian currency, with which the local currency is pegged, lost its value against the greenback. Gold price, on the other hand, went up by Rs 900 per tola (11.664grams).
CURRENCY
Rupee lost 34 paisa to close at Rs 100.58 against US dollar on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of US dollar fixed at Rs 100.24.
Though rupee's value remained unchanged on Monday, it strengthened by 30 paisa to close at 99.94 against US dollar on Tuesday. On Wednesday, rupee gained another 2 paisa against the greenback to close at 99.92. The local currency, however, shed 11 paisa on Thursday to close at 100.03 against US dollar. Rupee lost another 55 paisa on Friday to close the week´s trading at 100.58.
According to Bloomberg, India's rupee fell the most in almost two weeks on speculation importers stepped up dollar purchases to pay fiscal-year-end bills and as local stocks retreated.
Meanwhile, rupee lost a whopping Rs 3.43 against euro and Rs 2.37 against Pound Sterling over the week. A euro was exchanged at Rs 110.61on Friday, while the Pound Sterling was valued Rs 150.24.
BULLION
Gold price went up by Rs 800 per tola over the week as the price of yellow metal increased in the international market.
Trading opened on Sunday with gold price fixed at Rs 51,000 per tola. Gold price fell by Rs 50 per tola to settle at Rs 50,950 on Monday. The price, however, increased by Rs 50 per tola Rs 51,000 per tola on Tuesday. Gold continued to glitter on Wednesday as well, as its price went up by Rs 200 per tola to Rs 51,200. The price increased by Rs 600 per tola to Rs 51,800 on Thursday. Gold continued winning run on Friday as well, as its price went up by Rs 100 to close the week's trading at Rs 51,900 per tola.
Similarly, price of silver increased by Rs 15 per tola this week. Silver was traded at Rs 725 per tola on Friday.
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