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Rupee weakens, gold unchanged

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WEEKLY MARKET COMMENTARY (April 10-15)
KATHMANDU, April 15: Nepali rupee depreciated by 27 paisa against US dollar this week as the Indian currency, with which rupee is pegged, lost value against the greenback. Gold price remained unchanged at Rs 46,725 per 10 grams over the week.CURRENCY

Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday dollar's value fixed at Rs 106.66.

Though the exchange rate remained unchanged on Monday, rupee strengthened by 14 paisa on Tuesday to close at 106.52 against dollar. Rupee, however, lost 18 paisa against the greenback to settle at 106.70 Wednesday. The local unit shed another 10 paisa against US dollar on Thursday to settle at 106.80. Rupee continued losing run on Friday as well, as the domestic currency weakened by 13 paisa against US dollar to close the week's trading at 106.93.

Rupee gained 90 paisa against euro but lost Rs 1.43 paisa against Pound Sterling over the week. On Friday, a euro exchanged at Rs 120.47, while Pound Sterling was valued Rs 151.58.

BULLION

Trading opened on Sunday with price of gold fixed at Rs 46, 725 per 10 grams. Gold price increased by Rs 430 per 10 grams to Rs 47,155 on Monday. The yellow metal glittered further on Tuesday as its price went up by Rs 170 per 10 grams to Rs 47,325. Price remained unchanged on Wednesday because of public holiday. However, gold price fell by Rs 600 per 10 grams to Rs 46,725 when the market resumed trading on Thursday. Price of the yellow metal remained unchanged at Rs 46,725 on Friday.

Price of silver increased by Rs 26 per 10 grams this week. On Friday, silver was traded at Rs 639 per 10 grams.


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