CURRENCY
Nepali rupee shed 17 paisa against US dollar over the week rendering imports expensive but raising receipts of exporters as well as remittance receivers. On Friday, a US dollar was exchanged at Rs 99.77. [break]
Currency trading opened this week with exchange rate of US dollar set at Rs 99.60 on Sunday. Rupee lost 27 paisa on Monday to settle at Rs 99.87 on Monday.
According to Reuters, Indian rupee extended its loss for a second straight session on Monday, hurt by sharp losses in the domestic share market following a surprise rate hike by the Reserve Bank of India (RBI) on Friday. As a result, Nepali rupee shed 62 paisa to Rs 100.49 on Tuesday and another 1 paisa on Wednesday to close at Rs 100.50. The local currency, however, gained 14 paisa on Thursday to close at Rs 100.36.
“The rupee (Indian currency) gained for a second straight session to touch its highest level in nearly a week on Thursday as foreign banks sold dollars in the spot market while squaring off their long dollar positions in the offshore non-deliverable forwards,” Reuters said.
Rupee gained another 59 paisa on Friday to close the week´s trading at Rs 99.77.
Nepali rupee shed 1 paisa against Euro and 38 paisa against British Pound this week. On Friday, Euro was traded at Rs 134.62 while the British Pound was valued Rs 160.04.
BULLION
Gold price remained unchanged at Rs 47,155 per 10 grams this week. Bullion trading opened this week with the yellow metal priced at Rs 47,155 per 10 grams on Sunday.
Though the price remained unchanged on Monday, it increased by Rs 85 per 10 grams on Tuesday to close at Rs 47,240 per 10 grams. Price of gold remained unchanged at Wednesday and Thursday. The yellow metal lost Rs 85 per 10 grams to close the week´s trading at Rs 47,155 on Friday.
Meanwhile, the price of silver went down by Rs 8.50 per 10 grams this week. On Friday, silver was traded at Rs 784.50 per 10 grams.
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