Weekly Summary
Across the week, Nepal’s governance agenda centered on legislative momentum and fiscal planning, including the House of Representatives resuming amid opposition protests and the FY 2083/84 federal budget presented by Finance Minister Swarnim Wagle with deficit financing and capital-market reforms such as NEPSE restructuring. Accountability themes focused on courts and financial oversight, including the Lalitpur District Court order for Jyoti Gurung to appear in the Miteri Cooperative fraud case and Supreme Court actions on Sher Bahadur Deuba’s arrest warrant and arrest stays for Deuba and Arzu Rana Deuba. Economic and social developments included the economic survey presented by Dr. Swarnim Wagle projecting growth and highlighting domestic risks, while cooperative-sector scrutiny deepened through the Cooperative Mismanagement Investigation Commission report and allegations tied to Ganesh KC (specific details were not fully specified beyond bribery and procedural violations).
Forex remained relatively stable over the week: USD/NPR moved within 152.31-153.41 (0.72% net change), starting at NPR 153.41 on May 24 and ending at NPR 152.31 on May 31; other major pairs traded in narrow ranges (CAD 110.27-111.12, AUD 109.07-109.94, GBP 204.39-206.81, JPY 9.56-9.64). Local fine gold showed a uptrend of NPR 18,300 per tola, ending at NPR 311,100; international gold closed near NPR 259,346 per tola; local silver remained uptrend around NPR 5,345; international silver closed near NPR 4,304.
