Currency
Rupee lost a whopping Rs 1.35 against US dollar over the week to close at Rs 89.45 on Friday. The weakening of rupee increased import costs but raised receipt of exporters as well as remittance receivers.
Currency trading opened this week with exchange rate of rupee against US dollar fixed at Rs 88.1 on Sunday. Though the local currency remained unchanged on Monday, it shed 23 paisa on Tuesday to Rs 88.33 after Indian currency weakened against the greenback.
According to Reuters, the Indian rupee fell as worries about a potential pullback in the US monetary stimulus program and a weak manufacturing survey in China sparked a shift sway from riskier currencies.
On Wednesday, rupee fell by another 14 paisa to close at Rs 88.47. Rupee shed a whopping 73 paisa on Thursday to settle at Rs 89.20. The local currency lost another 25 paisa on Friday -- the final trading day of the week -- to close at Rs 89.45.
Nepali rupee also lost Rs 1.92 against Euro and 56 paisa against British Pound this week. On Friday, Euro was exchanged at Rs 115.23, while British Pound was valued Rs 134.8.
Bullion
Gold became dearer by Rs 1,630 per 10 grams over the week. Bullion trading opened this week with gold priced at Rs 42,095 per 10 grams on Sunday. The yellow metal became cheaper by Rs 345 per 10 grams on Monday to close at Rs 41,750. But on Tuesday, price of gold increased by Rs 1,375 per 10 grams to close at Rs 43,125.
The price, however, dropped by Rs 125 per 10 grams to close at Rs 43,000 on Wednesday. It increased by Rs 80 per 10 grams on Thursday and another Rs 645 per 10 grams on Friday to close the week at Rs 43,725 per 10 grams.
Price of silver also increased by Rs 17 per 10 grams over the week and closed at Rs 746 per 10 grams over the week.
Related story
Rupee weakens, gold unchanged
