Gold price drops by Rs 300 per tola on Monday
The price of gold has dropped by Rs 300 per tola in the domestic market on Monday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow bullion is being traded at Rs 112, 000 per tola today. It was traded at Rs 112, 300 per tola on Sunday.
Meanwhile, tejabi gold is being traded at Rs 111, 450 per tola. It was traded at Rs 111, 750.
Similarly, the silver is being traded at Rs 1,460 per tola today.
Inflow of tourists up in Mustang
Number of tourists visiting Mustang has increased by 45 percent.
According to the Area Conservation office, Jomsom of the Annapurna Conservation Area Project (ACAP), tourists' arrival in Mustang has increased by 45.75 percent in the fiscal year 2079/80 in comparison to the previous fiscal year, 2078/79 BS.
ACAP Jomsom In-charge Ashok Subedi said a total of 71,707 foreign tourists had entered Mustang in the fiscal 2079/80 BS.
"The data shows immoderate rise in the inflow of tourists before and after COVID-19", he said, adding, "Total 38,896 tourists had entered Mustang in the year 2078/79 BS.
Compared to the previous fiscal year, over 32,811 tourists had visited Mustang in FY 2079/80.
In the FY 2079/80, as many as 59,310 tourists arrived here from SAARC member countries and 6,749 tourists from the third countries.
Likewise, in FY 2079/80, a total of 3,388 tourists visited Upper Mustang which is the semi-prohibited area.
Influx of tourists has increased in Mustang last year owing to favorable weather, easy road access, hotel/lodge facilities and nominal incidents of natural disasters.
Nepse surges by 63. 24 points on Sunday
The Nepal Stock Exchange (NEPSE) gained 63.24 points to close at 2,227.16 points on Sunday.
Similarly, the sensitive index surged by 14.41 points to close at 424. 93 points.
A total of 12,002,308-unit shares of 266 companies were traded for Rs 4. 37 billion.
Meanwhile, Kisan Lagubitta Bittiya Sanstha Limited and Chandragiri Hills Limited were the top gainers today, with their price surging by 10. 00 percent.
Likewise, NIBL Growth Fund was the top loser as its price fell by 10.00 percent.
At the end of the day, total market capitalization stood at Rs 3. 27 trillion.
Monetary policy for FY 2023/24 sets seven targets
The monetary policy for the fiscal year 2023-34 unveiled by the Nepal Rastra Bank today has set seven various targets.
The structure and targets of the new monetary policy seek to maintain the foreign exchange reserve at a level sufficient to cover the anticipated imports of goods and services at least for seven months.
The monetary policy has determined its policy rates being based on the capacity of the foreign exchange reserves to cover imports and the target annual inflation rate. Additionally, the exchange rate of the Nepali currency against the Indian currency has been maintained as it is.
It aims to keep interbank interest rates within the interest corridor by operating and promoting open market operations based on the position of the operating target.
Similarly, it has set a target of limiting the inflation at 6.5 percent by preventing a pressure on prices by the monetary expansion.
The central bank has accorded priority to shift the fiscal resources to the productive sector in line with the target of achieving six percent economic growth set by the budget for the current fiscal year.
The broad money supply is expected to increase by 12.5 percent and credit to the private sector from banks and financial institutions is likely to go up by 11.5 percent in the current fiscal year.
