Currency
Nepali rupee lost 79 paisa against US dollar over the week to close at Rs 98.58 on Friday. The weakening of rupee increased import costs, but raised receipt of exporters as well as remittance receivers.[break]
Nepal Rastra Bank (NRB), the central monetary authority, opened currency trading on Sunday with exchange rate of rupee with US dollar set at 97.79. Though rupee gained 9 paisa on Monday to close at 97.70, it shed 34 paisa on Tuesday to settle at 98.04. Rupee lost another 8 paisa to 98.12 on Wednesday.
According to Reuters, the Indian currency weakened on Wednesday as the hike in gold and silver import duties announced a day earlier was not seen enough to prevent the domestic currency from sliding toward record lows.
As the effect of weakening of Indian currency on Wednesday, rupee lost another 44 paisa on Thursday to close at 98.56. Rupee lost another 2 paisa on Friday to close the week´s trading at 98.58.
Likewise, the local currency shed 17 paisa against Euro and Rs 1.62 against British Pound this week. A euro was valued at Rs 130.98 on Friday, while the British Pound was exchanged at Rs 153.6.
Bullion
Gold became dearer by Rs 2,360 per 10 grams over the week. Bullion trading opened this week with gold priced at Rs 45,525 per 10 grams on Sunday.
The yellow metal became dearer by Rs 385 per 10 grams to Rs 45,910 on Monday and another Rs 645 per 10 grams to Rs 46,555 per 10 grams on Tuesday.
Though gold price came down by Rs 385 per 10 grams on Wednesday, it rallied on Thursday, gaining Rs 555 per 10 grams to close Rs 46,725 per 10 grams. Gold became dearer by further Rs 160 per 10 grams to close at Rs 47,885 per 10 grams on Friday - the last trading day of the week.
Silver became expensive by Rs 81.5 per 10 grams this week. On Friday, silver was traded at Rs 823 per 10 grams.
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