Pakistani rupee edges lower against US dollar

KARACHI: The Pakistani rupee continues to depreciate against the US dollar in the inter-bank market on Wednesday.

At close, the local unit settled at 278.40, a decline of Re0.02 against the greenback, according to the State Bank of Pakistan (SBP).

On Tuesday, the local unit settled at 278.38 against the US dollar.

Gold rates

After registering downward trend, gold prices have increased in both global and domestic markets.

In the local market, the price of gold per tola increased by Rs800, setting the new price at Rs242,300 per tola.

In the international bullion market, the price of gold per ounce rose by $21, bringing the new global price to $2,345.

Additionally, the price of 10 grams of gold hiked by Rs686, reaching Rs207,733.

Yesterday, the gold prices had remained stable in both the international and local markets.