Keeping up with fluctuating exchange rates and gold prices is essential in today’s dynamic economy. Here’s the latest update on foreign currency exchange rates against the Pakistani Rupee (PKR) and the ongoing changes in gold prices both locally and globally.
Foreign Exchange Rates
The most recent figures for major foreign currencies are as follows:
- US Dollar (USD):
Selling Rate: Rs278.45
Buying Rate: Rs277.95 - Euro (EUR):
Selling Rate: Rs291.99
Buying Rate: Rs291.46 - British Pound (GBP):
Selling Rate: Rs352.09
Buying Rate: Rs351.45 - Swiss Franc (CHF):
Selling Rate: Rs313.38
Buying Rate: Rs312.82 - Canadian Dollar (CAD):
Selling Rate: Rs198.16
Buying Rate: Rs197.81 - Australian Dollar (AUD):
Selling Rate: Rs180.06
Buying Rate: Rs179.74 - UAE Dirham (AED):
Selling Rate: Rs75.81
Buying Rate: Rs75.68 - Saudi Riyal (SAR):
Selling Rate: Rs74.12
Buying Rate: Rs73.99 - Qatar Riyal (QAR):
Selling Rate: Rs76.62
Buying Rate: Rs76.48 - Kuwaiti Dinar (KWD):
Selling Rate: Rs906.29
Buying Rate: Rs904.67
Gold Prices: A Continuing Decline
Gold prices in Pakistan have shown a downward trend, influenced by international market dynamics.
- Local Market Updates:
- On Monday, gold prices fell by Rs1,700 to Rs274,500 per tola.
- Previously, on Friday, the prices dropped by Rs1,100, settling at Rs276,200 per tola (11.66 grams).
- Global Market Insights:
- In the international market, gold prices declined by $17, settling at $2,633 per ounce.
- The dollar index saw a 0.5% gain, marking its strongest day in over a week. This increase made gold more expensive for holders of other currencies.
- Spot gold fell 1% earlier in the session before stabilizing at $2,640.93 per ounce, while US gold futures dropped 0.6%, closing at $2,663.90.
Market Trends and Expert Opinions
Adnan Agar, Director of Interactive Commodities, explained that the gold price fluctuations were within normal expectations, reflecting global market behavior. Upcoming US employment data in November is likely to impact market trends, and increased activity is anticipated by early January due to the holiday season.
Stay informed with these updates to make well-informed financial decisions. For more insights and updates, visit Brides & You.