PKR appreciates on account of Saudi Bailout, bullion down by 1.6%

MG News | October 24, 2018 at 05:31 PM GMT+05:00

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October 24, 2018 (MLN): Interbank market witnessed the value of Pakistani Rupee (PKR) against US Dollar (USD) appreciate strongly during the day’s trade, as it hiked by over PKR 1.5 per USD.

Rupee against dollar closed in at PKR 133.9 per USD yesterday, while today, the figures have locked in at PKR 132 per USD.

As PKR makes its way to recovery, Pakistan’s debt burden is expected to reduce by approximately RS.180 billion.

On the other hand, the bullion market has shown substantial improvement since yesterday as the price of one tola gold drops by Rs.1000, remaining steady at Rs.60, 700.

Meanwhile, price for 10 grams of gold has dropped to Rs.50, 040, marking a decline of Rs.857.

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