KATHMANDU, July 24: Nepali rupee weakened by 41 paisa against US dollar this week as the Indian currency, with which rupee is pegged, lost value against the greenback. Price of gold, on the other hand, came down by Rs 2,575 per 10 grams to touch four-year low of Rs 40,456 on Friday.CURRENCY
Rupee lost 41 paisa against US dollar to close at 102.27 on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of dollar fixed at Rs 101.86.
Rupee gained 1 paisa on Monday to settle at 101.85 against US dollar. The local currency, however, lost 20 paisa on Tuesday to close at 102.05 against greenback. On Wednesday, rupee lost another 1 paisa against to settle at 102.06 against the dollar. However, the local unit appreciated by 10 paisa on Thursday to 101.96. Rupee lost another 31 paisa on Friday to close the week's trading at 102.27 against dollar.
Meanwhile, rupee lost Rs 1.29 against euro and 23 paisa against Pound Sterling over the week. A euro was exchanged at Rs 112.25 on Friday, while the Pound Sterling was valued Rs 159.54.
BULLION
Gold price came down by a mammoth Rs 2,575 per 10 grams to Rs 40,465 this week. Trading opened on Sunday with price of gold fixed at Rs 43,040 per 10 grams.
Gold price came down by Rs 600 per 10 grams on Monday to close at Rs 42,440. Though gold price remained unchanged on Tuesday, it dropped Rs 1,285 per 10 grams on Wednesday to settle at Rs 41,155. Though gold price remained unchanged on Thursday, price of the yellow metal fell by Rs 690 per 10 grams on Friday to close the week's trading at Rs 40,465 per 10 grams.
Local jewelers have attributed fall in gold price to price reduction in international market and downward revision of customs duty on gold imports through the budget for Fiscal Year 2015/16.
The government has reduced customs duty on gold imports by Rs 100,000 per kg to Rs 320,000.
Meanwhile, price of silver came down by Rs 4 per 10 grams this week. Silver was traded at Rs 566 per 10 grams on Friday.
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