Nepali Times
Weather
Gold rush


Rumours that the government would fix a ceiling on wealth after it initiated its "revolutionary" land reform plan triggered withdrawals in some banks last week. The new rush is to buy gold. Depositors still unwilling to believe government assurances that no ceiling on deposits is on the cards, have begun buying the yellow metal. Gold sales doubled from an average of 30 kilos to about 60 kilos per day. The rush has also pushed prices marginally-from Rs 7,110 on 17 August to Rs 7,200 on 28 August. The price of 10 grams of gold at the central bank's outlet was Rs 7,310. The uncertainty over the government's decision and continued protests by opposition parties demanding a ceiling on wealth have also dried up the supply of US dollars on the black market. The going rate of the dollar against the rupee in the hundi had reached Rs 80: $1 late last week.


LATEST ISSUE
638
(11 JAN 2013 - 17 JAN 2013)


ADVERTISEMENT



himalkhabar.com            

NEPALI TIMES IS A PUBLICATION OF HIMALMEDIA PRIVATE LIMITED | ABOUT US | ADVERTISE | SUBSCRIPTION | PRIVACY POLICY | TERMS OF USE | CONTACT