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PSX witnesses negative trend amid uncertainty over IMF bailout package

Web Desk 11:42 AM | 24 Mar, 2023
PSX witnesses negative trend amid uncertainty over IMF bailout package
Source: File photo

KARACHI – The Pakistan Stock Exchange (PSX) on Friday witnessed a negative trend amid the uncertainty over the resumption of the International Monetary Fund (IMF) bailout package.

The benchmark KSE-100 Index was hovering at 39,993.37 level, a decrease of 382.73 points and a percentage decline of 0.95%.

Automobile, cement, chemical, banking, oil and fertiliser sectors were trading in red.

Earlier, Prime Minister Shehbaz Sharif announced the Rs100 fuel subsidy on fuel, a programme that some economists fear could hinder a crucial IMF pay out needed to prevent economic collapse.

IMF representative Esther Perez Ruiz said this the government did not consult the fund about the fuel pricing scheme.

She said the fund would ask the government for more details about the proposal, including how it will be implemented and what protection would be put in place to prevent abuse.

Last month, the MPC of the State Bank of Pakistan (SBP) raised the key interest rate by 300 basis points, taking it to 20%.

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on June 3, 2023

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 June 03, 2023 (Saturday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 298.9 302.15
Euro EUR 321 325
UK Pound Sterling GBP 375.5 380
U.A.E Dirham AED 82 83
Saudi Riyal SAR 80 81.2
Australian Dollar AUD 202 204
Bahrain Dinar BHD 758.24 766.24
Canadian Dollar CAD 228 230
China Yuan CNY 40.18 40.58
Danish Krone DKK 41.16 41.56
Hong Kong Dollar HKD 36.39 36.74
Indian Rupee INR 3.45 3.56
Japanese Yen JPY 2 2.08
Kuwaiti Dinar KWD 927.05 936.05
Malaysian Ringgit MYR 61.94 62.54
New Zealand Dollar NZD 173.16 175.16
Norwegians Krone NOK 25.67 25.97
Omani Riyal OMR 740.5 748.5
Qatari Riyal ‎QAR 78.37 79.07
Singapore Dollar SGD 220 222
Swedish Korona SEK 26.36 26.66
Swiss Franc CHF 314.07 316.57
Thai Bhat THB 8.21 8.36

Today's gold rates in Pakistan | gold price in Pakistan – June 3, 2023

Gold Rate In Pakistan Today:

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 232,500 on Saturday. The price of 10 grams of 24k gold was recorded at Rs197,190.   

Likewise, 10 grams of 22k gold were being traded for Rs180,756 while a single tola of 22-karat gold was being sold at Rs 210,832.

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.

Gold Price in Pakistan: Lahore, Karachi, Islamabad

City Gold Silver
Lahore PKR 232,500 PKR 2125
Karachi PKR 232,500 PKR 2125
Islamabad PKR 232,500 PKR 2125
Peshawar PKR 232,500 PKR 2125
Quetta PKR 232,500 PKR 2125
Sialkot PKR 232,500 PKR 2125
Attock PKR 232,500 PKR 2125
Gujranwala PKR 232,500 PKR 2125
Jehlum PKR 232,500 PKR 2125
Multan PKR 232,500 PKR 2125
Bahawalpur PKR 232,500 PKR 2125
Gujrat PKR 232,500 PKR 2125
Nawabshah PKR 232,500 PKR 2125
Chakwal PKR 232,500 PKR 2125
Hyderabad PKR 232,500 PKR 2125
Nowshehra PKR 232,500 PKR 2125
Sargodha PKR 232,500 PKR 2125
Faisalabad PKR 232,500 PKR 2125
Mirpur PKR 232,500 PKR 2125

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