Gold price drops by Rs 600 per tola on Friday
The price of gold has dropped by Rs 600 per tola in the domestic market on Friday.
With the price drop, the yellow bullion is being traded at Rs 98, 000 per tola today.
According to the Federation of Nepal Gold and Silver Dealers' Association, the yellow metal was traded at Rs 98, 600 per tola on Thursday.
Meanwhile, tejabi gold is being traded at Rs 97, 500 per tola today.
Similarly, the silver is being traded at Rs 1, 280 per tola. It was traded at Rs 1, 305 on Thursday.
Nepse plunges by 37. 06 points on Thursday
The Nepal Stock Exchange (NEPSE) plunged by 37. 06 points to close at 2, 238. 62 points on Thursday.
Similarly, the sensitive dropped by 4. 34 points to close at 432. 55 points.
A total of 3, 674, 940 units of the shares of 232 companies were traded for Rs 1. 65 billion.
At the end of the day, the total market capitalization stood at Rs 3. 18 trillion.
Gold price increases by Rs 1, 400 per tola on Thursday
The price of gold has risen by Rs 1, 400 per tola in the domestic market on Thursday.
According to the Federation of Nepal Gold and Silver Dealers' Association, gold is currently trading at Rs 98, 600 per tola. The yellow metal was traded at Rs 97, 200 per tola on Wednesday.
Similarly, the Tejabi gold is now trading for Rs 98, 100 per tola in the market.
Similarly, the price of silver rose by Rs 15 per tola and is now trading at Rs 1, 305 per tola.
World Bank to provide $150 million credit to strengthen financial sector of Nepal
The World Bank is to provide a loan $150 million (approximately Rs. 18.36 billion) to strengthen the financial sector of Nepal.
The loan under the title of Finance for Growth and Development Policy Credit is being provided to help diversify financial solutions and increase access to financial services in Nepal.
A bilateral agreement to this end was signed here on Wednesday by Finance Secretary Madhu Kumar Marasini and World Bank Country Director for Maldives, Nepal and Sri Lanka Faris Hadad-Zervos, on behalf of the World Bank.
Speaking on the occasion, Finance Secretary Marasini said that the major priorities of the country at present are guided by the objective of achieving sustainable and inclusive growth, as reflected in the Financial Sector Development Strategy (2078-2082). The strategy focuses on addressing the risks of COVID-19 and climate change, as well as bringing digital payments and financial inclusion into the mainstream,” he said.
The support is expected to help supervision of the banking sector to address the risks of financial stability in the face of the COVID-19 epidemic. It will also help open up capital, insurance, and disaster risk financial markets and promote the latest financial services.
It will also support initiatives to increase the liquidity and inclusion of the economy through access to external business lending, financial digitization and financial literacy for women. The project will also help improve the functioning of the financial sector.
The project will support Nepal’s green and inclusive growth as well as launch a new climate agenda by supporting climate finance upliftment policies in various sectors.
Country Director of the World Bank Zervos expressed confidence that the project would further contribute to the government’s policies and priorities to mitigate the adverse effects of the epidemic by supporting the financial sector reforms with an expanded climate-resilience agenda in the financial market.
