KATHMANDU, Jan 12:
Nepali rupee strengthened for the third straight week against the US dollar this week as the Indian currency, with which Nepali rupee is pegged, gained due to dumping of US dollars by Indian exporters and rise in flow of overseas funds in Indian stocks.
Despite mid-week rise in US dollar against Nepali currency, Nepali rupee strengthened by 25 paisa against the dollar over the week.
Gold, on the other hand, slid on the last two trading days of the week in the domestic market with the price down by Rs 155 per 10 gram over the week.
Currency
Nepali Rupee rose by Rs 0.25 against the dollar over the week. This helped import cost to go down but also lowered export and remittance receipts.
Nepali rupee opened at Rs 88.05 against the dollar for the week on Sunday. As inflow of dollar slightly decreased, Nepali rupee weakened by 35 paisa on Monday. The Nepali currency shed another 10 paisa on Tuesday and three paisa on Wednesday. However, Nepali currency gained 49 paisa on Thursday due to strengthening of Indian currency on the back of dumping of US dollars by Indian exporters and rise in flow of overseas funds in Indian stocks. Nepali currency gained another 24 paisa on Friday, the final trading day of the week.
Likewise, Nepali rupee gained Rs 24 paisa against the euro over the week to close at Rs 114.72 on Friday. Nepali rupee also gained 72 paisa against the pound sterling during the week to end at Rs 140.66 on Friday.
Bullion
Despite rise seen in initial days of the week, gold surrendered Rs 155 per ten grams over the week. The yellow metal closed for the week at Rs 50,000 per 10 grams on Friday.
Bullion trading opened this week with gold price fixed at Rs 50,155 per 10 grams on Sunday. The price of the yellow metal continued to rise and reached Rs 50,240 on Wednesday, before taking dips on Thursday and Friday.
Meanwhile, the price of silver went up by Rs 13 per 10 grams in the domestic market this week. Silver was traded at Rs 947.50 per 10 grams on Friday.
Source: Republica
Nepali rupee strengthened for the third straight week against the US dollar this week as the Indian currency, with which Nepali rupee is pegged, gained due to dumping of US dollars by Indian exporters and rise in flow of overseas funds in Indian stocks.
Despite mid-week rise in US dollar against Nepali currency, Nepali rupee strengthened by 25 paisa against the dollar over the week.
Gold, on the other hand, slid on the last two trading days of the week in the domestic market with the price down by Rs 155 per 10 gram over the week.
Currency
Nepali Rupee rose by Rs 0.25 against the dollar over the week. This helped import cost to go down but also lowered export and remittance receipts.
Nepali rupee opened at Rs 88.05 against the dollar for the week on Sunday. As inflow of dollar slightly decreased, Nepali rupee weakened by 35 paisa on Monday. The Nepali currency shed another 10 paisa on Tuesday and three paisa on Wednesday. However, Nepali currency gained 49 paisa on Thursday due to strengthening of Indian currency on the back of dumping of US dollars by Indian exporters and rise in flow of overseas funds in Indian stocks. Nepali currency gained another 24 paisa on Friday, the final trading day of the week.
Likewise, Nepali rupee gained Rs 24 paisa against the euro over the week to close at Rs 114.72 on Friday. Nepali rupee also gained 72 paisa against the pound sterling during the week to end at Rs 140.66 on Friday.
Bullion
Despite rise seen in initial days of the week, gold surrendered Rs 155 per ten grams over the week. The yellow metal closed for the week at Rs 50,000 per 10 grams on Friday.
Bullion trading opened this week with gold price fixed at Rs 50,155 per 10 grams on Sunday. The price of the yellow metal continued to rise and reached Rs 50,240 on Wednesday, before taking dips on Thursday and Friday.
Meanwhile, the price of silver went up by Rs 13 per 10 grams in the domestic market this week. Silver was traded at Rs 947.50 per 10 grams on Friday.
Source: Republica
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