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Rupee strengthens against dollar

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By No Author
KATHMANDU, Feb 17: Nepali rupee strengthened against the US dollar over this week, as the value of Indian rupee went up in the Indian market. Since Nepali rupee is pegged with the Indian currency, any change in the Indian rupee brings about similar change in the value of Nepali currency.



The price of gold, on the other hand, remained at the same level when the market opened and closed for the week.[break]


Currency

Nepali rupee gained 50 paisa against the US dollar over the week, with rupee standing at Rs 79.15 per dollar when the markets closed on Friday. On Sunday, when markets opened, rupee was traded at 79.65 against the dollar. On Monday, it gained 30 paisa to touch Rs 79.35 and on Tuesday it gained another 36 paisa to stand at Rs 78.99 per dollar. Since then the value of rupee remained almost constant moving in a band between 78.99 and 79.15.



Rupee also gained against euro and pound sterling over the week. Rupee, which was traded at 105.64 per euro and 125.75 per pound sterling on Sunday, strengthened to 102.87 per euro and 124.06 per pound sterling when the markets closed on Friday.


Bullion

Gold price remained almost constant over the week, except for minor fluctuations. Gold, which was traded at Rs 46,380 per 10 gram on Sunday, remained unchanged on Monday. It went down to Rs 46,295 per 10 gram on Tuesday and fell further to Rs 46,210 per 10 grams on Wednesday. It remained at the same level on Thursday but rose to Rs 46,380 per 10 grams when the markets closed on Friday.



Meanwhile, silver price fell from Rs 934.50 per 10 gram to Rs 926 over the week.



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