Rupee gains 23 paisa against dollar in interbank trading

ISLAMABAD (APP) - Pakistani rupee on Wednesday strengthened by 23 paisa against the US dollar in the interbank trading and closed at Rs278.40 against the previous day’s closing of Rs278.63.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs278.7 and Rs281.45, respectively.

The price of the Euro remained unchanged to close at Rs302.35, according to the State Bank of Pakistan (SBP). The Japanese Yen came down by 02 paisa and closed at Rs1.83, whereas an increase of 02 pasia was witnessed in the exchange rate of the British Pound, which was traded at Rs353.80 compared to the last closing of Rs353.78.

The Emirates Dirham and the Saudi Riyal decreased by 06 paisa each to close at Rs75.81 and Rs74.23.

PSX gains 229 points

The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend for third consecutive day on Wednesday, gaining 229.20 points, a positive change of 0.34 percent, closing at 65,731.79 points against 65,502.60 points the previous trading day.

A total of 341,843,546 shares valuing Rs.11.844 billion were traded during the day as compared to 323,281,871 shares valuing Rs. 17.059 billion the last day. Some 342 companies transacted their shares in the stock market; 173 of them recorded gains and 146 sustained losses, whereas the share prices of 23 remained unchanged.

Gold rates up by Rs500 to Rs227,800 per tola

The per tola price of 24-karat gold witnessed an increase of Rs500 and was sold at Rs227,800 compared to its sale at Rs227,300  on last trading day.

The price of 10g of 24-karat gold also increased by Rs429 to Rs195,302 from Rs194,873 whereas the price of 10g 22-karat gold went up to Rs179,027 from Rs178,634. The price of per tola and 10g silver remained constant at Rs2,580 and Rs2,211.93 respectively. The price of gold in the international market increased by US$5 to US$2,178 from US$.2,173.