KATHMANDU, Jan 3: Nepali rupee
weakened by 65 paisa this week as the Indian currency, with which rupee
is pegged, shed value against the greenback. Price of gold, on the other
hand, increased by Rs 860 per 10 grams over the week in line with the
price movement in international bullion market.
CURRENCY
Nepali rupee dropped to 99.92 against US dollar, losing 65 paisa over the week. Nepal Rastra Bank (NRB), the central monetary authority, opened currency trading on Sunday with exchange rate of US dollar fixed at Rs 99.27.
Rupee remained unchanged on Monday but lost 9 paisa on Tuesday to settle at 99.36. The local currency, however, rallied, gaining 17paisa to close at 99.19 on Wednesday. Rupee dropped 16 paisa against US dollar on Thursday to settle at 99.35 after Indian currency weakened against the greenback.
According to Reuters, the Indian currency fell to a one-month low on Friday, extending losses for a third consecutive session, as the dollar strengthened against emerging Asian currencies and as a bout of risk aversion hit local stocks.
Rupee shed 57 paisa on Friday - the last trading day of the week - to close at 99.92.
The local currency gained 48 paisa against Euro but lost a whopping Rs 1.32 against British Pound over the week. A Euro was valued at Rs 136.79 on Friday, while the Pound Sterling was exchanged at Rs 165.29.
BULLION
Gold glittered this week as its price went up by Rs 860 per 10 grams over the week.
The Federation of Nepal Gold and Silver Dealers Associations opened bullion trading on Sunday with price of gold fixed at Rs 44,580 per 10 grams. Though gold price remained unchanged but on Tuesday, it went down by Rs 340 per 10 grams to Rs 44,240. The price remained unchanged on Wednesday.
Gold price, however, went up by Rs 640 per 10 grams to Rs 44,880 on Thursday. Price of the precious metal increased further by Rs 560 per 10 grams to close the week at Rs 45,440.
Price of silver also increased by Rs 4 per 10 grams to close at Rs 741.5 this week.
Source:myrepublica.com, Jan 4th 2014
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CURRENCY
Nepali rupee dropped to 99.92 against US dollar, losing 65 paisa over the week. Nepal Rastra Bank (NRB), the central monetary authority, opened currency trading on Sunday with exchange rate of US dollar fixed at Rs 99.27.
Rupee remained unchanged on Monday but lost 9 paisa on Tuesday to settle at 99.36. The local currency, however, rallied, gaining 17paisa to close at 99.19 on Wednesday. Rupee dropped 16 paisa against US dollar on Thursday to settle at 99.35 after Indian currency weakened against the greenback.
According to Reuters, the Indian currency fell to a one-month low on Friday, extending losses for a third consecutive session, as the dollar strengthened against emerging Asian currencies and as a bout of risk aversion hit local stocks.
Rupee shed 57 paisa on Friday - the last trading day of the week - to close at 99.92.
The local currency gained 48 paisa against Euro but lost a whopping Rs 1.32 against British Pound over the week. A Euro was valued at Rs 136.79 on Friday, while the Pound Sterling was exchanged at Rs 165.29.
BULLION
Gold glittered this week as its price went up by Rs 860 per 10 grams over the week.
The Federation of Nepal Gold and Silver Dealers Associations opened bullion trading on Sunday with price of gold fixed at Rs 44,580 per 10 grams. Though gold price remained unchanged but on Tuesday, it went down by Rs 340 per 10 grams to Rs 44,240. The price remained unchanged on Wednesday.
Gold price, however, went up by Rs 640 per 10 grams to Rs 44,880 on Thursday. Price of the precious metal increased further by Rs 560 per 10 grams to close the week at Rs 45,440.
Price of silver also increased by Rs 4 per 10 grams to close at Rs 741.5 this week.
Source:myrepublica.com, Jan 4th 2014
You may also like:
Century Commercial Bank IPO for Rs.920 million
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