KARACHI – The State Bank of Pakistan (SBP) on Monday increased the benchmark interest rate by 100 basis points to 17%.
In his maiden monetary policy press conference after assuming charge in August, SBP Governor Jameel Ahmad revealed that the committee has observed that “inflationary pressures are persisting and continue to be broad-based”.
“Our short-term challenges, including current account deficit, remain. There is some delay in the inflows we were expecting due to which our reserves are under pressure,” the SBP governor said.
The Monetary Policy Committee took the decision to raise the policy rate after a detailed analysis of the country’s external and fiscal position, the SBP governor said.
The committee noted the global economic situation, including the International Monetary Fund and the World Bank’s downgrading of the global economic growth rate and the prevailing uncertainty.
Jameel Ahmad said there were risks to the GDP growth projection of 2pc made by the MPC at its last meeting in November, especially external issues.
The SBP chief said the central bank’s MPC also did a detailed analysis of the agriculture sector and inflation.
Daily Pakistan Global Web Desk
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 03, 2023 (Friday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency | Symbol | Buying | Selling |
US Dollar | USD | 272.25 | 273.25 |
Euro | EUR | 297.32 | 297.65 |
UK Pound Sterling | GBP | 333.31 | 333.61 |
U.A.E Dirham | AED | 73.03 | 73.33 |
Saudi Riyal | SAR | 71.49 | 71.80 |
Australian Dollar | AUD | 188.9 | 191.3 |
Bahrain Dinar | BHD | 712.73 | 720.73 |
Canadian Dollar | CAD | 200.95 | 203.15 |
China Yuan | CNY | 39.67 | 40.07 |
Danish Krone | DKK | 39.11 | 39.51 |
Hong Kong Dollar | HKD | 34.19 | 34.54 |
Indian Rupee | INR | 3.28 | 3.39 |
Japanese Yen | JPY | 2.5 | 2.54 |
Kuwaiti Dinar | KWD | 877.76 | 886.76 |
Malaysian Ringgit | MYR | 62.83 | 63.43 |
New Zealand Dollar | NZD | 173.25 | 175.25 |
Norwegians Krone | NOK | 26.76 | 27.09 |
Omani Riyal | OMR | 696.08 | 704.08 |
Qatari Riyal | QAR | 73.62 | 74.32 |
Singapore Dollar | SGD | 204 | 206 |
Swedish Korona | SEK | 25.61 | 25.91 |
Swiss Franc | CHF | 291.69 | 294.19 |
Thai Bhat | THB | 8.15 | 8.3 |
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 212,900 on Friday. The price of 10 grams of 24k gold was recorded at Rs182,530.
Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.
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 212,900 | PKR 2,420 |
Karachi | PKR 212,900 | PKR 2,420 |
Islamabad | PKR 212,900 | PKR 2,420 |
Peshawar | PKR 212,900 | PKR 2,420 |
Quetta | PKR 212,900 | PKR 2,420 |
Sialkot | PKR 212,900 | PKR 2,420 |
Attock | PKR 212,900 | PKR 2,420 |
Gujranwala | PKR 212,900 | PKR 2,420 |
Jehlum | PKR 212,900 | PKR 2,420 |
Multan | PKR 212,900 | PKR 2,420 |
Bahawalpur | PKR 212,900 | PKR 2,420 |
Gujrat | PKR 212,900 | PKR 2,420 |
Nawabshah | PKR 212,900 | PKR 2,420 |
Chakwal | PKR 212,900 | PKR 2,420 |
Hyderabad | PKR 212,900 | PKR 2,420 |
Nowshehra | PKR 212,900 | PKR 2,420 |
Sargodha | PKR 212,900 | PKR 2,420 |
Faisalabad | PKR 212,900 | PKR 2,420 |
Mirpur | PKR 212,900 | PKR 2,420 |
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