US dollar witnesses slight decline against rupee


US dollar slides

WEB DESK: In the interbank market, the US dollar witnessed a decline in value after the first business day on Monday. Data released by the State Bank of Pakistan shows that the dollar’s value dropped by 44 paisa, settling at Rs284.53, down from Rs284.97.

It’s noteworthy that at the commencement of the day’s trading, the dollar had already experienced a reduction of 72 paisa, trading at Rs284.25. This followed the previous business day’s closing at Rs284.97, reflecting a decrease of 20 paisa.

Read more: Gold prices in Pakistan experience decline

Separately, Gold rates in Pakistan witnessed a significant decline. The 24-karat gold saw a dip, now priced at Rs217,000 per tola, while the 22-karat variant is available at Rs198,917 per tola on Monday.

Even in smaller amounts, these prices were still attractive, with 10 grams of 24-karat gold costing Rs186,043 and 22-karat gold costing Rs 170,539.

These fluctuations are closely tied to changes in the value of the US Dollar, highlighting the link between currency values and gold prices.

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