Pakistan Rupee reaches 22-month high against US Dollar; gold price increases
May 7, 2021 10:05 PM
The United States Dollar Friday further weakened against the Pakistani rupee and fell at the lowest value in the last 22 months, reported 24NewsHD TV Channel.
According to the financial reports, the Pakistan Rupee gained 20paisa against the US dollar in the inter-bank market.
At the Inter-bank Foreign Exchange (IFEX), the dollar fell from RS152.60 to RS152.28. Pertinent to mention here that after the decrease of value in the inter-bank market, the US dollar also became cheaper in the open market.
In the open market on Friday, it was observed that the dollar has fallen by 40 paisas.
On the other hand, the All Sindh Sarafa Bazar (Gold Market) Association said on Friday that the international prices of gold had been increased up to 25 dollars and reached US$1820 per ounce.
Resultantly, the prices of gold in Pakistan also increased. The prices of per tola gold were included with RS1100 reached up to RS105,500 while 10-gram gold was sold at RS90,450 with an increase of RS944 on Friday.