Dollar continues to rise against rupee, gold gains Rs900 in local market

KARACHI: On Monday, the local currency remained under the pressure of the political turmoil in Pakistan. The greenback gained Rs1.87 and traded at Rs230.24. However, forex dealers alleged that commercial banks were trading the foreign currency at Rs232. Meanwhile, in the open market, the rupee stood between Rs232 and Rs234.

For the fourth consecutive day, the value of the rupee has declined. Last week, the dollar touched Rs228.37 in the interbank market after a gain of Rs1.56. On the other hand, the gold rates also surged in the local market by Rs900.

The Pakistan Jewellers Manufacturers Association (APJMA) reported that the per tola rate stood at Rs146,300. The 10 grams rate increased by Rs772 and reached Rs125,429.

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