PKR continues winning streak against USD

KARACHI: The Pakistani rupee (PKR) continued an upward trend against the US dollar in the interbank, the State Bank of Pakistan (SBP) said Wednesday.

According to the SBP, the PKR appreciated by Re0.17 and closed at Rs283.16 in the interbank market. The local currency was being traded at over Rs284.50 in the open market, said forex dealers.

On Wednesday, the rupee closed at 284.14 against the US dollar.

Meanwhile, the gold prices continued a downward trend in Pakistan as per tola price of 24 karat gold declined by Rs1000 in the local market, ARY News reported.

The gold prices recorded a decrease of Rs1000 per tola to settle at Rs212,600 in the domestic market, according to the All Sindh Sarafa Jewellers Association.

The price of 10 grams of 24-karat gold also registered a decrease of Rs858 and being sold at Rs182,270.

The price of gold in the international market decreased by $7 to $2,005 from $1998 the Association reported.

Spot gold gained 0.1% at $1,981.29 per ounce, as of 0941 GMT. U.S. gold futures rose 0.2% to $1,996.30.

Silver slipped 0.4% to $22.65 per ounce, while platinum fell 0.1% to $928.08 and palladium skidded 1% to $970.31.