Currency
Nepali rupee gained a significant Rs 1.40 against a US dollar over the week. This made imports cost to go down, but lowered income of remittances receivers as well as exporters. On Friday, a dollar was valued Rs 88.30.
After suffering consecutive fall of 2 percent and 1.4 percent against US dollar over the last two weeks, Nepal Rastra Bank (NRB), country´s monetary authority, had opened the trading Sunday with exchange rate of dollar set at Rs 89.70. Unlike the previous weeks, rupee continued to perform better in the following trading days, gaining 55 paisa overnight on Monday and 9 paisa on Tuesday.
Though rupee recorded an overnight fall of 37 paisa on Wednesday, it gained 54 paisa on Thursday. Rupee further gained 59 paisa against a dollar when the trading closed on Friday.
Rupee weakened by 37 paisa against a euro, but gained 81 paisa against a pound sterling over the week. A euro was exchanged at Rs 111.05, while a pound sterling was valued Rs 136.88 on Friday.
Bullion
Though gold hit new high in the mid-week trading, it became cheaper by Rs 1,455 per 10 grams over the week after fresh initiatives to address euro zone debt woes eased pressure on the global safe haven. On Friday, gold was traded at Rs 47,240 per 10 grams.
Bullion trading had opened this week with gold priced at Rs 48,695 per 10 grams on Sunday. Though the price dipped by Rs 170 per 10 grams on Monday, it recorded an gain of Rs 260 per 10 grams on Wednesday, hitting a new high of Rs 48,785. But price receded by Rs 215 per 10 grams on Thursday and another Rs 1,330 per 10 grams on Friday.
Silver price also dropped by Rs 13 per 10 grams over this week. On Friday, silver was priced Rs 904.50 per 10 grams.
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