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State Bank allows dealers to buy dollars from interbank market for international card transactions
KARACHI - State Bank of Pakistan (SBP) has permitted approved dealers to buy dollars on the interbank market in order to settle card-based cross-border transactions using International Payment Schemes (IPS).
The central bank announced in a notification on Wednesday, saying, "It is decided to allow authorised dealers to purchase USD from interbank for settlement of card-based cross-border transactions with IPS [such as Visa, Mastercard, etc.] in view of representations received from stakeholders."
The SBP stated that the notification will be effective until July 31, 2023.
Prior to this, the authorised dealers were only permitted to buy USD from exchange companies for such transactions.
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Rupee remains stable against US dollar, Euro, Pound, Dirham and Riyal; check forex rates
Pakistani rupee remained stable against US dollar in the open bank market on Friday.
Dollar Rate in Pakistan Today
On Friday, the US dollar was being quoted at 285.3 for buying and 288.15 for selling.
Euro moves down to 311 for buying and 314 for selling. British Pound rate stands at 358.5 for buying, and 361.5 for selling.
UAE Dirham AED stands at 78 whereas the Saudi Riyal rate stands at 76.20.
Today's currency exchange rates in Pakistan – 1 December 2023
| Currency | Symbol | Buying | Selling |
| US Dollar | USD | 285.3 | 288.15 |
| Euro | EUR | 311 | 314 |
| UK Pound Sterling | GBP | 358.5 | 361.5 |
| U.A.E Dirham | AED | 78 | 78.7 |
| Saudi Riyal | SAR | 76.2 | 77 |
| Australian Dollar | AUD | 187.2 | 189 |
| Bahrain Dinar | BHD | 759.67 | 767.67 |
| Canadian Dollar | CAD | 209 | 211 |
| China Yuan | CNY | 39.59 | 39.98 |
| Danish Krone | DKK | 41.38 | 41.78 |
| Hong Kong Dollar | HKD | 36.63 | 36.98 |
| Indian Rupee | INR | 3.39 | 3.5 |
| Japanese Yen | JPY | 1.49 | 1.56 |
| Kuwaiti Dinar | KWD | 926.7 | 935.7 |
| Malaysian Ringgit | MYR | 60.38 | 60.98 |
| New Zealand Dollar | NZD | 173.44 | 175.44 |
| Norwegians Krone | NOK | 26.25 | 26.55 |
| Omani Riyal | OMR | 741.26 | 749.26 |
| Qatari Riyal | QAR | 77.63 | 78.33 |
| Singapore Dollar | SGD | 211 | 213 |
| Swedish Korona | SEK | 26.93 | 27.23 |
| Swiss Franc | CHF | 325.9 | 328.4 |
| Thai Bhat | THB | 8.23 | 8.38 |
Gold rates drop in Pakistan; Check today’s gold rates 1 December 2023
KARACHI – The gold price continues to climb up in the local market in line of upward trend in international market.
Gold Rates in Pakistan Today - 1 December 2023
On Thursday, the single tola of 24 Karat gold was available at Rs217,400, and the price for 10-gram gold reached Rs186,390.
Meanwhile, the 22 Karat Gold price stands at Rs199,282, 21 karat rate for each tola is Rs190,225 and 18k gold rate hovers around Rs163,050.
In international market, the price of precious metal hovers around $2,045 per ounce.
Today Gold Rate in Pakistan
| City | Gold | Silver |
| Lahore | PKR 217,400 | PKR 2,696 |
| Karachi | PKR 217,400 | PKR 2,696 |
| Islamabad | PKR 217,400 | PKR 2,696 |
| Peshawar | PKR 217,400 | PKR 2,696 |
| Quetta | PKR 217,400 | PKR 2,696 |
| Sialkot | PKR 217,400 | PKR 2,696 |
| Attock | PKR 217,400 | PKR 2,696 |
| Gujranwala | PKR 217,400 | PKR 2,696 |
| Jehlum | PKR 217,400 | PKR 2,696 |
| Multan | PKR 217,400 | PKR 2,696 |
| Bahawalpur | PKR 217,400 | PKR 2,696 |
| Gujrat | PKR 217,400 | PKR 2,696 |
| Nawabshah | PKR 217,400 | PKR 2,696 |
| Chakwal | PKR 217,400 | PKR 2,696 |
| Hyderabad | PKR 217,400 | PKR 2,696 |
| Nowshehra | PKR 217,400 | PKR 2,696 |
| Sargodha | PKR 217,400 | PKR 2,696 |
| Faisalabad | PKR 217,400 | PKR 2,696 |
| Mirpur | PKR 217,400 | PKR 2,696 |
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