Tag: Local Currency
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Gold price drops by Rs1,500 per tola in Pakistan amidst global market slump
On Friday, the price of gold in Pakistan witnessed a decline of Rs1,500 per tola, losing its luster due to a decrease in the international market.
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Fourth consecutive decline: Gold price drops by Rs1,800 to Rs218,700 per tola
In line with the reduction in international rates, the per tola gold price in Pakistan experienced a significant decline of Rs1,800 on Wednesday. This marks the fourth consecutive day of falling prices for the precious metal. The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) released data indicating that the price of 24-carat gold decreased by…
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Pakistani rupee bounces back after steep decline against dollar
During the early hours of trading on Friday, the Pakistani rupee (PKR) saw a significant recovery against the US dollar, with an increase of 4.51 per cent. The inter-bank market quoted the PKR at Rs272.78 by 11:50 am, representing an increase of Rs12.31 against the US dollar. This follows a steep decline of 6.66 per…
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Intraday update: Pakistani rupee drops to all-time low of Rs270 against US dollar
According to information provided by the Forex Association of Pakistan (FAP), the Pakistani rupee depreciated by an additional Rs7.4 after falling to a record low last week, trading at Rs270 per dollar in the interbank market at approximately 1:30 pm on Monday. From Friday’s close of Rs262.6, this represents a loss of more than 2.5…
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Pakistani rupee drops by 0.35% to close at Rs221.43 versus dollar
As investors await the US Federal Reserve’s decision on the policy rate, the Pakistani rupee (PKR) depreciated by 0.35 per cent against the greenback on Wednesday. According to the State Bank of Pakistan (SBP), the local unit appreciated by Rs0.78 and ended the day at Rs221.43. The Pakistani rupee enjoyed gains against the US dollar…
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PKR suffers losses against USD for 5th consecutive day
The State Bank of Pakistan and the government were unable to stabilise the exchange rate as the Pakistani rupee lost value for the fifth straight day on Monday after falling 46 paisas against the US dollar in the interbank market. State Bank of Pakistan reports that the local unit decreased by 0.37 per cent to…
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Pakistani rupee gains Rs2.13 to close at Rs221.91
In line with improved market sentiment, the Pakistani rupee (PKR) kept strengthening versus the US dollar, closing at Rs221.91 on Wednesday in the inter-bank market. According to the State Bank of Pakistan (SBP), the local currency appreciated by 0.96 per cent or Rs2.13 against the dollar to settle at Rs221.91. The uptick on Wednesday marked…
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Hyundai sedan prices raised up to Rs830,010 amid rupee devaluation
Hyundai Nishat, like other automakers, has announced a major hike in costs for the Elantra and Sonata variants as a result of the unstable local currency and increased tax rates. The updated price for the Hyundai Elantra 2.0 is Rs5,499,000 (including CVT) compared to the old rate of Rs4,998,490 after an increase of Rs500,510. The…
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Pakistani rupee falls to Rs233 per US dollar in the interbank market
The Pakistani rupee (PKR) continued to fall on Tuesday as the country’s political turmoil worsened, trading at Rs233 to the dollar in the interbank market. Today, the US dollar gained Rs3.12 versus the local currency, compared to the previous day’s finish of Rs229.88, which was an all-time high at the time. The local currency has…
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Pakistani rupee plunges to Rs227 against US dollar at midday trading
On Thursday, the rupee’s decline against the US dollar reached an all-time low of Rs227 in the interbank market. Experts blame the losses on political unrest and the fact that the dollar is bolstering against other currencies as well, according to DAWN. On Wednesday, the rupee had a closing value of Rs224.92. According to the…