The dollar has shown contrasting movements in the interbank and open markets.
According to the State Bank of Pakistan, the interbank exchange rate for the dollar closed at Rs277.69, marking an increase of 8 paise from the previous rate of Rs277.61.
Conversely, the open market experienced a decline in the dollar’s value, with prices dropping by 33 paise to settle at Rs278.75. This divergence in pricing has led to a difference of Rs1.06 between the two markets, highlighting the fluctuations in the currency exchange dynamics.
The current situation underscores the complexities of Pakistan’s forex market, as varying rates in different markets can impact trading strategies and economic forecasts.
Separately, The price of gold in Pakistan continued its upward march, reaching Rs282,300 per tola on Monday, after an increase of Rs500.
Similarly, the price of 10 grams of gold has reached a record high of Rs242,027 with an increase of Rs429, according to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
