KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
NEPSE index climbs 2.47% to close at record-breaking Rs. 27.24 billion turnover
The Nepal Stock Exchange (NEPSE) Index continued its upward trend on Monday, closing at 2,931.65 points, which marks a significant increase of 70.81 points or 2.47% from the previous day.
This rise follows a prior session where the index had gained 94.53 points, indicating sustained positive momentum.
Trading began with the index at 2,876.48 points, experiencing fluctuations throughout the day with a low of 2,876.46 points and a high of 2,937.40 points before closing.
The trading session was marked by substantial activity, with 339 scrips traded in 283,047 transactions, leading to a record turnover of Rs. 27.24 billion, surpassing the previous day’s record of Rs. 25.77 billion.
Gold price drops
The domestic gold market on Monday saw a reduction in prices, with the Federation of Nepal Gold and Silver Dealers’ Associations setting the new rate at Rs 148,700 per tola, a decrease of Rs 100 from Sunday’s price of Rs 148,800 per tola.
This decline reflects a shift in market conditions. Concurrently, the price of silver also fell by Rs 5 per tola, with the new rate fixed at Rs 1,715 per tola, down from Rs 1,720 per tola the previous day.
The adjustments in both gold and silver prices suggest a downward trend in precious metal valuations in the domestic market.
Construction resumes on Gautam Buddha International Cricket Stadium
Bharatpur Metropolitan City resumed construction of the Gautam Buddha International Cricket Stadium, collaborating with provincial and central governments.
Current work includes stone soling under the parapet, with local materials and rods undergoing laboratory testing.
Mayor Renu Dahal has urged timely completion and pledged support, while Engineer Jagannath Aryal stated that the stadium will feature seating for 10,000 and a total construction cost of Rs 755.5 million.
Federal and local budgets for this fiscal year are Rs 250 million and Rs 40 million, respectively, with Bagmati Province covering 70% of costs.
The Dhurmus Suntali Foundation has already completed a 5,000-seat parapet with 286 pillars. The project is set for completion by January 6, 2027.
US dollar reaches all-time high on Tuesday
Nepal Rastra Bank has announced today’s foreign currency exchange rates, revealing a notable rise in the value of the US dollar, which has reached its highest level ever.
The current buying rate for 1 US dollar is NPR 134.06, and the selling rate is NPR 134.66, up from NPR 134.04 and NPR 134.64 respectively from yesterday.
Conversely, other foreign currencies have experienced slight declines in their values, with the buying rate for 1 Euro now at NPR 146.41 (from NPR 146.32) and the selling rate at NPR 147.06 (from NPR 146.98).
The British Pound, Australian Dollar, Kuwaiti Dinar, and Bahraini Dinar have also shown some fluctuations. The Australian Dollar’s buying rate is NPR 88.47 (from NPR 88.10) and selling rate is NPR 88.87 (from NPR 88.49).
(Prepared by Srija Khanal)
Comment