Despite short supply, sharp drop in the international prices of gold, meanwhile, dragged down the prices of yellow metal in the domestic market this week. [break]
Currency
Nepali rupee gained 40 paisa against a dollar this week, as demand for the greenback slid in India with whose currency Nepali rupee is pegged. On Friday, a dollar was exchanged at Rs 73.15.
Nepal Rastra Bank, country´s monetary authority, had fixed the exchange rate of a US dollar at Rs 73.55 when the market opened on Sunday. Nepali rupee continued to strengthen over the following days, gaining 25 paisa on Monday, further 12 paisa on Wednesday and additional 18 paisa on Thursday. It, however, shed 20 paisa overnight on Friday, when the market closed this week.
Likewise, rupee strengthened against euro and pound sterling as well by 21 paisa and Rs 1.07 paisa respectively this week. A euro was exchanged at Rs 99.74 on Friday and a pound sterling was valued Rs 109.48 on the day.
Bullion
Gold became cheaper by Rs 300 per ten grams this week, as sharp drop in the global prices of yellow metal dragged down its price despite its short supply in the market. On Friday, gold was traded at Rs 27,780 per 10 grams.
Nepal Gold and Silver Dealers Association, which sets the price of gold in the domestic market, had fixed the price of yellow metal Rs 28,080 per 10 grams on Sunday.
However, the price dipped by Rs 130 per 10 grams on Tuesday and additional Rs 255 on Thursday. However, the price rallied by Rs 85 per 10 grams on Friday, as international gold price inched up on the day.
Likewise, the price of silver too slipped to Rs 424.50 from Rs 427 per 10 grams over the week.
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