Nepali rupee at five-month high

Nepali rupee has hit five-month high, as the US dollar continued to lose its strength.

For tomorrow, Nepal Rastra Bank (NRB) fixed reference exchange rate of Rs 98.12 as selling rate based on today’s forex trading of commercial banks. Likewise, buying rate is fixed at Rs 97.52.

The Indian rupee —with which Nepali currency is pegged—is gaining its footing against the US dollar due to its improving macroeconomic condition.

Gold sales rises on wedding demand, traded at Rs 52,700 per tola on Tuesday

Demand for gold has climbed up thanks to ongoing wedding season and drop in price this month.

According to Federation of Nepal Gold and Silver Dealers´ Association of Nepal, gold demand has increased to around 35 kg a day compared to average daily sales of 25 kg couple of months ago.

“Most of the traders have reported impressive rise in gold sales,” Mani Ratna Shakya, president of federation, told Republica. Shakya further added that gold sales increases during November-January due to demand from wedding shoppers. He also attributed rise in gold sales to drop in the price of yellow metal.

Gold dips to Rs 54,000

Local bullion prices cooled down in a reflection of international trends with gold dropping Rs 1,600 per tola. The Federation of Nepal Gold and Silver Dealers’ Association (Fenegosida) on Thursday set the price of the yellow metal at Rs 54,000 per tola (11.664 gm). On Wednesday, gold traded at Rs 55,600 per tola.

Similarly, silver became cheaper by Rs 40 per tola. Silver traded at Rs 865 per tola on Thursday, down from Rs 905 on Wednesday.

Gold buyers smiling, Rs 56,600 per tola

Gold buyers are in a better mood as the yellow metal fell Rs 600 per tola on Wednesday. Fears of prices hitting new highs due to the festive rush had got potential customers worried lately.

Gold dearer by Rs 900 per tola, Nepali rupee improves against USD

The price of hallmark gold has increased by Rs.900 per tola on Friday.

The Federation of Nepal Gold and Silver Dealers' Association (FNEGOSIDA) has fixed the price of yellow metal at Rs. 55,000 per tola (11.664 gram) on the last trading day of the week.

Nepal formally asks US for duty-free entry for 75 additional products

The government on Sunday formally requested that an additional 75 Nepali products be considered for the US Generalised System of Preferences (GSP). If approved, the items with a competitive advantage will enjoy duty free access to the US market, an emerging marketplace for local items.

Rupee continues gaining streak against USD

Nepali rupee strengthened against US dollar this week as well as the Indian currency, with which Nepali rupee is pegged, made gains against the greenback. Rupee gained a whopping Rs 3.29 against the US currency over the week. Price of gold unchanged this week.

Rupee slumps to new low of 109.03 against USD

Nepali rupee will plunge to record low of 109.33 against US dollar on Wednesday, as per the exchange rate published by Nepal Rastra Bank (NRB) on Tuesday evening.

This means Nepali rupee will post overnight loss of Rs 2.97 against the greenback. US dollar was exchanged at Rs 106.06 on Tuesday.

Gold price Rs. 61,200 today, decreases by Rs 1000

Bullion prices have slightly declined in the domestic market after hitting the record high.
According to Nepal Gold and Silver Dealers’ Associations (NEGOSIDA), the price hallmark gold dropped by Rs. 1,000 per tola (11.664 gram) on Friday, on the last trading day of the week.

Nepali rupee hits all-time low‚ 1 USD costs Rs.108.90

The Nepal Rastra Bank has revised the foreign currency exchange rate for Thursday placing the selling rate of U.S. dollar at Rs.108.90.
Earlier on Wednesday, the central bank had fixed the reference selling rate of U.S. dollar at Rs.105.35 for today.

Gold hits all-time high of Rs 63,300 per tola

Gold hit an all-time high of Rs 63,300 per tola (11.664 gm) on Wednesday with the Nepali rupee continuing to dive and world prices in takeoff mode. The yellow metal, which has been on a gradual upward trend in the past month, jumped Rs 3,400 per tola overnight.

Gold reached close to Rs 60,000 mark

Bullion prices have witnessed an increase in the local market on the onset of festivals.

According to the Nepal Gold and Silver Dealers' Association (NEGOSIDA), the gold price increased by Rs 1,000 per tola in the domestic market on Tuesday following the trend in the international market.

NEGOSIDA has fixed the price of hallmark gold at Rs 59,900 per tola (11.664 grams) today.

The dollar takes off

With the value of the Indian rupee in a continuous fall since the last couple of months, the foreign exchange market in Nepal has been in great confusion. The Nepali rupee plunged more than 10 percent from about Rs 94 per US$ 1 just a month ago to Rs 103 last week. That was inevitable as the Nepali rupee has been pegged to the Indian rupee. Also, the system of a fixed exchange rate between the two currencies tends to change the value of the Nepali rupee in terms of other convertible currencies, such as the US dollar, in proportion to changes in the Indian rupee against the third currency in question.

Gold price hits six-month high of Rs 58,500 per tola

Gold price hit its six-month high of Rs 58,500 per tola (11.664 gm) on Thursday, posting an overnight price rise of Rs 1,200.

Although there has not been a significant rise in gold price in the international market, the price of the yellow metal has surged by Rs 4,000 per tola in Nepal over the last one week. The surge in gold price has hit consumers planning to purchase gold amid nearing festive season hard.

Nepali currency to plunge further to Rs 104

After reaching a new life time low, the Nepali currency is all set to plunge further to Rs 104 as the dollar rate has reached to 65 Indian rupees in Indian market today.

Rupee plunges to lifetime low‚ past Rs 100 per USD

Nepali currency has slumped past Rs 100 against the US dollar to hit a new lifetime low.

Rupee, which was sold at Rs 98.95 per USD by Nepal Rastra Bank today, will plunge to an all-time low of Rs 100.60 by the time markets open tomorrow.

The slide comes as Indian rupee, with which Nepali rupee is pegged, plunged to Rs 62.50 today.

Rupee at a historic low of Rs 98.0 for a US dollar

The Nepali rupee has reached yet another historic low beyond Rs 98 for a US dollar as the Indian currency continued its slide.

The reference rate determined by Nepal Rastra Bank stands at Rs 98.05 as selling rate for tomorrow based on today’s forex trading. Likewise, NRB has fixed the buying rate for dollar at Rs 97.45 for tomorrow.

Rupee slumps to 97.09 against USD, Gold price down by Rs 215 per tola

Nepali rupee slumped to 97.09 against US dollar this week, as the Indian currency, with which rupee is pegged, continued its loosing spree against the greenback. Despite rupee´s depreciation, gold price went down by Rs 215 per 10 grams over the week.

Gold price down by Rs 1‚000 per tola at Rs 52,050 per tola

The price of gold has decreased by Rs 1,000 today, the last day of the week, from Thursday.
The gold price has come down to Rs 52,050 per tola today, according to the Nepal Gold and Silver Dealers' Association (NEGOSIDA).

Rupee dips all-time low to Rs 97.73 a dollar

The Nepali rupee has dipped to an all-time low against the US dollar , with the Nepal Rastra Bank (NRB) setting the reference exchange rate at Rs 97.73 per dollar for Thursday. The Nepali currency witnessed a single day fall of Rs 1.04 a dollar on Wednesday.