KARACHI: On Friday, September 1, 2023, the price of gold in Pakistan stood at PKR 241,500 for one tola of 24-karat gold.
Similarly, the price of 24-karat gold, as reported by the bullion market, was Rs 207,050 per 10 grams.
In parallel, the US dollar exhibited further strength in the open market on the same day, witnessing an increase of Rs 3 to reach a rate of Rs 326, according to the Exchange Companies Association. This came after the dollar had reached Rs 323 in the open market on the final day of the business week.
Conversely, there was a marginal decrease of 7 paise in the value of the dollar in the interbank market on Friday, with the dollar closing at Rs 305.47, as stated by the State Bank.
However, the Forex Association of Pakistan (FAP) reported different figures for the open market, with buying and selling rates of the dollar at Rs 329.5 and Rs 332.5, respectively.
Furthermore, the price of the Euro experienced a decline of Rs 1.18 paisa, closing at Rs 331.52, compared to the previous day’s closing rate of Rs 332.70, according to the State Bank of Pakistan (SBP).
In the foreign exchange market, the Japanese Yen saw a minor increase of 1 paisa, reaching a rate of Rs 2.10. On the other hand, the exchange rate of the British Pound saw a decrease of 55 paisa, trading at Rs 387.42, as opposed to its previous closing rate of Rs 387.97.
Lastly, the exchange rates for the Emirates Dirham and the Saudi Riyal both decreased, with a drop of 2 and 1 paisa, respectively, leading to closing rates of Rs 83.16.
