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Gold price crosses Rs200,000 per tola mark as Pakistani rupee dips to historic low

06:08 PM | 27 Jan, 2023
Gold price crosses Rs200,000 per tola mark as Pakistani rupee dips to historic low
Source: File Photo

KARACHI – As the Pakistani rupee currency continues to lose ground since the government allowed free floating of exchange rates, the price of per tola gold surpassed Rs200,000 mark for the first time in the history of Pakistan.

According to All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24 carats of gold witnessed an increase of Rs7,000 to reach Rs202,500 while the price of 10 grams settled at Rs173,619 after a surge of Rs6,000.

Earlier in the day, Pakistani rupee continued its losing streak against the greenback. The local currency plummeted to Rs262.60 against the dollar in the interbank market on Friday, sliding 2.73 per cent from yesterday’s close of Rs255,43.

The jump in gold prices comes as weakening rupee valued pushed investors to the safety of bullion to hedge against deepening economic turmoil in the country.

Daily Pakistan Global Web Desk

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Pakistani rupee rate against US Dollar, Euro, Pound, Riyal - Check 14 April forex rates

Pakistani currency remains unchanged against US dollar and other currencies in open market on April 14, 2024.

US Dollar rate in Pakistan

On Sunday, the US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 14 April 2024

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 299.95 302.9
UK Pound Sterling GBP 349.5 353
U.A.E Dirham AED 75.45
 
76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86
 
1.94
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76

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