KARACHI: Gold price hit an all-time high in Pakistan, surpassing Rs150,000 per tola for the first time partly due to the depreciating local currency.
According to all Pakistan Jewellers Manufacturers Association (APJMA), the per tola price of gold price increased by Rs2,500 in the local market to settle at 152,000, reaching an all-time high.
Similarly, the price of 10 grams of gold increased by Rs2,143 to an all-time high of Rs130,315 in the domestic market.
Rupee freefall continues
The unabated rise in US dollar against the rupee on Wednesday continued as the greenback reached historic high in the interbank.
According to forex dealers, the US dollar increased by Rs3.09 against rupee in the interbank and closed at Rs236.02. In open market, the greenback traded between Rs238 and Rs239.
The forex dealers said that the banks are selling the greenback at Rs237.
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