📉 Pakistani Rupee Dips Again in Interbank Market
KARACHI – The Pakistani rupee continued to fall against the US dollar on Monday, marking another day of losses in the interbank exchange market.
As reported by the State Bank of Pakistan (SBP), the local currency closed at Rs284.72, falling by 26 paisa or 0.09% from its previous level. Last week, the rupee had already dropped 49 paisa (0.17%), closing at Rs284.46.
💬 What’s Driving the Rupee’s Decline?
According to Ali Najib, Deputy Head of Trading at Arif Habib Ltd, several factors are putting pressure on the currency:
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Increased import payments
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Profit repatriation by multinational companies
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Investor caution ahead of foreign debt repayments
Additionally, the SBP continues to purchase US dollars from the market, adding to the pressure. The central bank’s interventions have crossed $6 billion in the first eight months of FY2025, aimed at boosting foreign exchange reserves amid:
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Strong remittance inflows
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Support from the IMF
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Debt rollovers
Despite the improved reserves, the rupee remains under pressure due to speculative trading and a strong global dollar.
“Without stronger foreign inflows or tighter monetary policies, the rupee could face more slight depreciation in the near future,” Najib warned.
🟡 Gold Prices Edge Up in Pakistan
Local gold rates posted moderate gains on Monday, reflecting the positive trend in the international bullion market. Investors are closely watching ongoing trade tensions and upcoming US economic indicators.
According to the All Pakistan Sarafa Gems and Jewellers Association:
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Gold price per tola increased by Rs1,600, reaching Rs359,700
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10-gram gold went up by Rs1,371, now priced at Rs308,384
⚪ Silver Reaches Highest Level Since 2011
Silver prices soared globally, touching the highest point since September 2011.
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Spot silver rose 1.1% to $38.78 per ounce
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In Pakistan, 24K silver now costs Rs4,087 per tola
Experts link the price surge to geopolitical concerns and economic uncertainty.
💬 Expert Insight:
Adnan Agar, Director at Interactive Commodities, stated:
“Gold prices jumped after comments by US President Donald Trump on new tariffs targeting Europe and Mexico. Gold touched $3,375 before easing to $3,345. The market may correct slightly, but further volatility is likely.”
🌍 Global Market Outlook for Precious Metals
As of 1337 GMT, spot gold remained stable at $3,356.95 per ounce, slightly down after peaking at its highest since June 23, according to Reuters. Analysts say global trends like trade policy changes and US macroeconomic data will continue to shape gold and silver prices both globally and in Pakistan.
