Rupee gains against US dollar in interbank market

Pakistani rupee on Wednesday gained 01 paisa against the US dollar in the interbank trading and closed at Rs277.72 against the previous day’s closing of Rs277.73.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs277.30 and Rs278.80 respectively.

The price of Euro decreased by Rs1.44 to close at Rs299.46 against the last day’s closing of Rs300.90, according to the State Bank of Pakistan (SBP).

The Japanese yen came down by 02 paisa and closed at Rs1.82, whereas a decrease of Rs 1.07 was witnessed in the exchange rate of the British Pound, which traded at Rs360.07 as compared to the last day’s closing of Rs361.14.

The exchange rate of the Emirates Dirham remained unchanged and closed at Rs 75.61 and the Saudi Riyal increased by 01 paisa to close at Rs73.96.

Gold hits new peak

Meanwhile, the per tola gold price increased further by Rs2,000 and was sold at the highest-ever rate at Rs285,400 on Wednesday October 23, 2024 compared to its sale at Rs283,400 on the last trading day.

The price of 10 grams of 24 karat gold also increased by Rs1,714 to Rs244,684 from Rs242,970 whereas the price of 10 gram 22 karat gold went up to Rs224,294 from Rs222,722, the All Sindh Sarafa Jewellers Association reported.

The price of per tola silver increased by Rs200 to Rs3,350 whereas that of ten gram silver went up by Rs171.46 to Rs2,872.08.

The price of gold in the international market increased by $20 to $2,757 from $2,737, the Association reported.