The price of gold in Pakistan has dropped significantly, with a loss of a thousand rupees per tola (about 11.7 grams) recorded within 24 hours. Currently, 24-carat gold is selling on the market for 211,000 rupees per tola, while 22-carat gold is selling for 193,417 rupees per tola.
The US dollar, on the other hand, has dropped to its lowest level in six weeks against the Pakistani rupee, with the interbank rate falling 90 paisas to 290.86 rupees. This is said to be related to the government’s crackdown on currency dealers. The dollar has dropped 50 paisas on the open market, now selling at 293 rupees.
It is crucial to highlight that the repercussions of the government’s assault on the currency market are becoming clear since the rupee’s value in the interbank market stayed constant versus the dollar at the start of the week.
Furthermore, the Pakistan Stock Exchange had a mixed day, with the 100 index ending 284 points lower at 46,393 points. The 100-index achieved a high of 46,590 points during the day. Transactions for 195.6 million shares totaled 6.891 trillion rupees in market capitalization.