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Rupee weakens, gold unchanged

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weekly market commentary (Feb 14-19)


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Rupee weakens, gold unchanged


KATHMANDU, Feb 20:  Nepali rupee lost 48 paisa against US dollar this week as the Indian currency, with which rupee is pegged, lost value against the greenback. Gold price, however, remained unchanged this week.

CURRENCY

Nepal Rastra Bank (NRB), the central regulatory bank, opened currency trading on Sunday with value of dollar fixed at Rs 109.48. Though rupee's valued remained unchanged on Monday, it gained 18 paisa on Tuesday to close at 109.3 against dollar. Rupee lost 47 paisa against the greenback on Wednesday to settle at Rs 109.77. On Thursday, rupee lost another 16 paisa to close the day's trading at 109.93 against the greenback. Rupee lost 3 paisa against the dollar on Friday to close the week's trading at 109.96.


Meanwhile, rupee gained Rs 1.08 against euro and Rs 1.64 against Pound Sterling over the week. On Friday, a euro exchanged at Rs 122.46 while British Pound was valued Rs 157.42.

BULLION

Trading began on Sunday with price of gold fixed at Rs 47,585 per 10 grams. Gold price came down by Rs 90 per 10 grams on Monday to settle at Rs 47,495. On Tuesday, gold price fell by Rs 685 per 10 grams to close trading at Rs 46,810. The yellow metal, however, glittered on Wednesday, as its price increased by Rs 445 per 10 grams to Rs 47,155. Though gold price remained unchanged on Thursday, it went up by Rs 430 per 10 grams on Friday to close the week's trading at Rs 47,585.

Meanwhile, price of silver fell by Rs 4.5 per 10 grams this week. On Friday, silver was traded at Rs 634.5 per 10 grams.
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