Rupee depreciates against US dollar again

Web Desk 03:34 PM | 7 Feb, 2023

Source: File photo

KARACHI – The rupee depreciated again US dollar, losing 0.11% in the inter-bank market during trading on Tuesday.

At around 1pm, the rupee was being quoted at 275.60 during intra-day trading, a decline of Rs0.30. However, earlier in the day it had improved. At around 10:30am it was being quoted at 274.20.

The local currency had also registered some improvement on Monday, closing at 275.30.

The depreciation comes as technical-level talks between Pakistan and the International Monetary Fund (IMF) team are said to have concluded on Monday while policy-level discussions will start from Tuesday.

Gold prices rose on Tuesday as the dollar pulled back slightly, with traders awaiting Federal Reserve Chair Jerome Powell’s speech later in the day for hints about future rate hikes after last week’s strong economic data.

Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on February 7, 2023

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USD to PKR: Pakistani rupee remains stable against dollar as IMF talks underway

ISLAMABAD – Pakistani rupee remained stable against the US dollar as the market is looking for direction amid Pakistan’s ongoing negotiations with the International Monetary Fund (IMF).

Amid the economic uncertainty, the local currency remained unchanged against the greenback, moving up 0.01 percent during the opening hours of trading. Before noon, PKR was hovering at 285.40 in the interbank.

In contrast to the inter-bank, the dollar continued its upward trajectory in the open market and is reportedly available at Rs315, as the gap between the official rate and open market rate is Rs30 per dollar.

As the money market is waiting for a positive development from the economic front, International Monetary Fund (IMF) Mission Chief to Pakistan said they continued engagement with Islamabad focusing on the restoration of foreign exchange proper market functioning, with special on the upcoming budget.

https://en.dailypakistan.com.pk/30-May-2023/today-s-currency-exchange-rates-in-pakistan-dollar-euro-pound-riyal-rates-on-may-30-2023

Gold & Silver Rate

Today's gold rates in Pakistan – May 30 2023

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 232,700 on Tuesday.The price of 10 grams of 24k gold was recorded at Rs199,510.

Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,880.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City	Gold	Silver
Lahore	PKR 232,700	PKR 2,500
Karachi	PKR 232,700	PKR 2,500
Islamabad	PKR 232,700	PKR 2,500
Peshawar	PKR 232,700	PKR 2,500
Quetta	PKR 232,700	PKR 2,500
Sialkot	PKR 232,700	PKR 2,500
Attock	PKR 232,700	PKR 2,500
Gujranwala	PKR 232,700	PKR 2,500
Jehlum	PKR 232,700	PKR 2,500
Multan	PKR 232,700	PKR 2,500
Bahawalpur	PKR 232,700	PKR 2,500
Gujrat	PKR 232,700	PKR 2,500
Nawabshah	PKR 232,700	PKR 2,500
Chakwal	PKR 232,700	PKR 2,500
Hyderabad	PKR 232,700	PKR 2,500
Nowshehra	PKR 232,700	PKR 2,500
Sargodha	PKR 232,700	PKR 2,500
Faisalabad	PKR 232,700	PKR 2,500
Mirpur	PKR 232,700	PKR 2,500