US Dollar goes down to Rs157.25 in interbank market
- By Web Desk -
- Aug 23, 2019
KARACHI: The Pakistani rupee on Friday bounced back against the US dollar gaining one rupee at the start of trading in the interbank market, ARY News reported.
The dollar was trading at Rs158. 25 paisas and slipped down to Rs157.25 today, since its peak of Rs164.25 on June 27.
The decline in the cost of the dollar will help reduce the debt burden by Rs600 million.
On the other hand, the domestic gold price fell by Rs350 to Rs87,800 per tola on Thursday.
10-gram price of gold slid Rs299 to Rs75,274.
The price of the precious yellow metal has registered a cumulative drop of Rs1,550 this week.
The drop in gold price is attributed to Pakistan Stock Exchange (PSC) resuming its upward climb.
It is noteworthy that the gold price had registered a record high of Rs89,000 per tola last week.