Pak rupee strengthens against US dollar in interbank

Business Report

KARACHI: The exchange rate of Pakistani rupee strengthened by Rs0.10 against the US dollar at the start of intra-day trading.

 greenback is currently trading at 166.85 against the domestic currency at the interbank foreign exchange market.

The dollar had finished at Rs166.85 against the local unit the other day.

The price of gold remained stable on Tuesday and traded at Rs106,000 per tola in the domestic market.

Likewise, the rate of 10 grams of the yellow metal remained constant and traded at Rs90,877, according to All Pakistan Jewellers Association.

Meanwhile, gold prices in the international market fell by $7 to $1,777 per ounce.

Gold dipped on Tuesday as investors booked profits after bullion rallied to a near eight-year peak and as demand for dollars rose amid a new surge in COVID-19 cases.

Spot gold slipped 0.3% to $1,777.72 per ounce by 1,213 GMT after earlier touching a high of $1,786.91, just short of Wednesday’s nearly eight-year peak of $1,788.96.