Weekly report: Dollar depreciates in interbank, gold up by Rs9050
KARACHI (Web Desk) – The Pakistani rupee gained value against the United States Dollar in the interbank while gold price increased by Rs9050 per tola during the outgoing week.
According to details, the price of the greenback depreciated by 7 paisa in the interbank market, closing at Rs167.26; however, during the week dollar hit all-time record high of Rs168.30 and then dropped sharply by Rs1.04. During the outgoing week value of Riyal remained unchanged at 45.30 rupees.
Dollar, in Kerb market gained 10 paisa to 167.79 rupees while dirham fell by 20 paisa to close at 44.10 rupees and Pound gained three rupees to close at Rs214. Euro in open market increased by Re4 to 193.50 rupees.
On the other hand gold price also saw a massive upward trend and increased by Rs9050 per tola during the outgoing week to reach price of Rs118,700. Price of 10 grams of cold rose by 7759 to 101,766.
The Pakistan Stock Exchange (PSX) up by 0.74 percent during the outgoing week and the KSE-100 Index closed at 37,608 points.
Price of US crude also saw an upward trend and increased by 1.07% to $40.59/ barrel. However, cotton price down by 0.8% to 67.65 cents per pound and coal price down 0.55% to $54.7 per ton.