Rupee gains, gold prices down

KATHMANDU, Sept 11: The Nepali rupee gained 2 paisa against the US dollar over this week as the Indian currency, with which rupee is pegged, gained in value against the greenback. Meanwhile, gold prices went down by Rs 430 per 10 grams during the week.

CURRENCY

Nepal Rastra Bank (NRB), the central regulatory bank, opened currency trading on Sunday with the value of a dollar fixed at Rs 106.68.

The rupee gained 4 paisa against the US dollar on Monday to settle at Rs 106.64. However, the rupee lost 58 paisa against the greenback on Tuesday to close at Rs 107.22. On Wednesday, the local currency gained 34 paisa against the US dollar to settle at Rs 106.88.

The rupee further gained 29 paisa against the US dollar on Thursday to close at Rs 106.59. On Friday, the rupee lost a further 7 paisa against the US dollar to close the week's trading at Rs 106.66.

Meanwhile, rupee lost 55 paisa against Euro and Rs 1.48 against British Pound over the week. A Euro was exchanged at Rs 119.39 on Friday, while the British Pound was valued Rs 164.06.

BULLION

Gold prices came down by Rs 430 per 10 grams over the week in the domestic market. The Federation of Nepal Gold and Silver Dealers' Association opened bullion trading on Sunday with the price of gold fixed at Rs 43,210 per 10 grams.

On Monday, the price of gold increased by Rs 85 per 10 grams to Rs 43,295. The price of the yellow metal came down by Rs 85 per 10 grams on Tuesday to Rs 43.210. Though the price of gold remained unchanged on Wednesday, it came down by Rs 515 per 10 grams on Thursday to Rs 42,695. The price of gold increased by Rs 85 per 10 grams on Friday to close trading for the week at Rs 42,780.

Meanwhile, the price of silver went up by Rs 4 per 10 grams this week. On Friday, silver 0was traded at Rs 591.5 per 10 grams.

-myrepublica.com/http://www.myrepublica.com/economy/story/27990/rupee-gains-gold-prices-down.html