Rupee depreciates, gold glitters

Kathmandu, June-14 Nepali rupee lost 16 paisa against US dollar 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 425 per 10 grams this week.

Rupee lost 16 paisa to close at 102.44 against US dollar on Friday. Nepal Rastra Bank (NRB), the central regulatory bank, had opened currency trading on Sunday with value of dollar fixed at Rs 102.48.

Though the local currency gained 18 paisa on Monday, it shed 55 paisa to settle at 102.85 against greenback. Rupee strengthened by 29 paisa against US dollar on Wednesday to settle at 102.56. Though rupee gained another 12 paisa to close at 102.44 on Thursday, it lost 20 paisa on Friday to close the week's trading at 102.64 against US dollar.

Meanwhile, rupee lost 10 paisa against euro and Rs 1.67 against British Pound this week. A euro was exchanged at Rs 115.53 on Friday, while the British Pound was valued Rs 158.63.

BULLION

Gold price increased by Rs 425 per 10 grams to Rs 44,495 this week. Trading opened on Sunday with price of gold fixed at Rs 44,070 per 10 grams on Sunday.

Price of the yellow metal increased by Rs 170 per 10 grams on Monday to Rs 44,240. Though the price remained unchanged on Tuesday, it increased by Rs 85 per 10 grams to Rs 44,325 on Wednesday. Gold price increased by another Rs 170 per 10 grams on Thursday to Rs 44,495. Price of the yellow metal remained unchanged on Friday to close the week's trading at Rs 44,495.

Meanwhile, price of silver fell by Rs 4.5 per 10 grams this week. Silver was traded at Rs 600 per 10 grams on Friday.

Source: Republica