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Rupee weakens, gold price down

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WEEKLY MARKET COMMENTARY (Oct 25-30)
KATHMANDU, Oct 30: Nepali rupee lost 36 paisa against US dollar this week as the Indian currency, with which rupee is pegged, lost value against the greenback. Gold price, meanwhile, came down by Rs 345 per 10 grams this week.CURRENCY

Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of US dollar fixed at Rs 104.16.

Rupee gained 13 paisa on Monday to settle at 104.03 against US dollar. The local currency, however, weakened by 17 paisa against the greenback to close at 104.20 on Tuesday. On Wednesday, rupee lost another 4 paisa to close at 104.24 against US dollar. Rupee continued losing streak, shedding 12 paisa on Thursday to settle at 104.36 against the greenback. Rupee lost 16 paisa on Friday to close the week's trading at 104.52.

Rupee, however, gained Rs 1.43 against euro and 82 paisa against Pound Sterling over the week. A euro was exchanged at Rs 114.50 on Friday, while the Pound Sterling was valued Rs 159.60.

BULLION

Gold price came down by Rs 345 per 10 grams this week. Trading opened on Sunday with price of gold fixed at Rs 43,725 per 10 grams.

Though gold price remained unchanged until Tuesday, it went up by Rs 170 per 10 grams to Rs 43,895 on Wednesday. Gold price, however, fell by Rs 170 per 10 grams on Thursday to settle at Rs 43,725. On Friday, price of the yellow metal went down by Rs 345 per 10 grams to close the week's trading at Rs 43,380.

Meanwhile, price of silver remained unchanged this week. On Friday, silver was traded at Rs 613 per 10 grams.



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