Currency
Nepali rupee gained 20 paisa against a US dollar over the week, making imports cheaper but lowering income of exporters as well as remittance receivers. A dollar was exchanged at Rs 71.20 on Friday.
Nepal Rastra Bank -- country´s monetary authority -- had set the exchange rate of a US dollar at Rs 71.40 when the market opened this week on Sunday. However, rupee underwent sharp upheavals, as demand for greenback fluctuated sharply in India. Rupee gained 20 paisa against a dollar on Monday compared to Sunday, but fell overnight by 10 paisa on Tuesday and additional 15 paisa on Wednesday. However, it recorded a gain of 20 paisa on Thursday and additional 5 paisa on Friday when the market closed this week.
However, rupee weakened by 73 paisa against a euro and 67 paisa against a pound sterling over the week. On Friday, a euro was exchanged at Rs 104.06, while a pound sterling was valued Rs 117.35.
Bullion
Gold became expensive by Rs 26 per 10 grams as its international price hit new record this week. The yellow metal was traded at Rs 35,710 per 10 grams or Rs 41,653 per tola (11.664 grams) on Friday, as international priced crossed over US$ 1,516 a troy ounce on Thursday.
Bullion trading had opened this week with gold priced at Rs 35,450 per 10 grams on Sunday. Amid low demand, its price dropped by Rs 85 per 10 grams on Monday. However, prices continued to surge as dollar fell sharply against major rival currencies from Tuesday. On Tuesday, gold became expensive by Rs 215 per 10 grams compared to Monday.
Although the price remained stable on Wednesday, it jumped overnight by Rs 130 per 10 grams on Thursday. The yellow metal refused to budge from the new high of Thursday on Friday, as international market showed signs of jittery over fall of US dollar.
The price of silver too climbed to a new high this week. Silver became expensive by a whopping Rs 82 per 10 grams over the week and closed at Rs 1,102 per 10 grams on Friday.
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