KATHMANDU, May 8: Nepali rupee lost Rs 1.23 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, increased by Rs 170 per 10 grams over the week.
CURRENCY
Rupee lost Rs 1.23 to close at 103.01 against US dollar on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with dollar's value fixed at Rs 101.78.
Though rupee's value remained unchanged on Monday and Tuesday, it lost 6 paisa to close at 101.84 on Wednesday. Rupee continued losing rung as it lost another 12 paisa against the greenback on Thursday to settle at 101.96. The domestic currency lost another Rs 1.05 on Friday to close the week's trading at 103.01 against US dollar.
Reuters on Friday reported that the Indian rupee will remain weak against the dollar over the coming year on expectations that an impending rate hike by the Federal Reserve will boost US bond yields and investors will shun emerging economies.
Meanwhile, rupee lost whopping Rs 2.45 against euro and 97 paisa against Pound Sterling over the week. A euro was exchanged at Rs 117.09 on Friday, while the British Pound was valued Rs 156.79.
BULLION
Gold price increased by Rs 170 per 10 grams to Rs 44,580 this week. As Sunday was public holiday, trading opened on Monday with price of gold fixed at Rs 44,410 per 10 grams. Gold price increased by Rs 85 per 10 grams on Tuesday to Rs 44,495. On Wednesday, price of the yellow metal increased by another Rs 260 per 10 grams to Rs 44,755. Gold price, however, came down by Rs 175 per 10 grams on Thursday to settle at Rs 44,580. Price of gold remained unchanged at Rs 44,580 per 10 grams on Friday -- the last trading day of the week.
Similarly, price of silver went up by Rs 9 per 10 grams this week. Silver was traded at Rs 609 per 10 grams on Friday.
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