Gold price on rise, rupee firms
The prices of gold in Nepali market is continuing to rise as its price increased internationally following the firmer oil price in international market and weaker American dollar.
According to Nepal Gold and Silver Dealers Association (NGSDA), the price of the precious yellow metal increased by Rs. 140 per ten grams in the domestic bullion market over the week.
The gold price that stood at Rs. 15,200 per ten grams on Sunday increased to Rs. 15,340 on Friday.
The gold price moved up to US$ 659 per troy ounce this week, while it was US$ 656 a week earlier.
The Nepali currency was traded at Rs. 70.94 a dollar on Friday from Rs. 70.95 of Sunday. As the Nepali currency is pegged with the Indian rupee, the Nepali rupee closely follows the Indian currency's movement against the US dollar and other major currencies.
Similarly, the rupee strengthened against the euro to end at Rs. 92.28 a euro from Rs. 92.36 of Sunday. However, the rupee weakened against the pound sterling, as it ended at Rs. 139.67 a pound on Friday, in comparison to Rs. 139.52 of Sunday. The rupee was exchanged slightly higher at Rs. 5.86 per ten Japanese yen on Friday from Rs. 5.87 of Sunday, the first day of trading.
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