Pakistani Rupee Remains Stable Despite Global Turmoil
Karachi, Pakistan – The price of gold in local markets has remained unchanged at PKR 5,23,762 per tola, according to the All Pakistan Sarraf Association. The price of gold in the country has seen a significant increase once again in the local markets. The price of 10 grams of gold remains at PKR 4,49,041. On the other hand, the global market price of gold remains at $5010 per ounce. According to a statement, a new strategy has been implemented with a focus on three key sectors. The 100 Index closed at 1,50,016 points on the last day of trade, as reported by the State Bank of Pakistan. The ongoing war in the Middle East is affecting Pakistan’s textile industry, leading to a significant increase in the prices of raw materials.
Despite the ongoing war between Iran and the United States, and the escalating tensions in the Middle East, there has been no significant change in the global market price of gold. Experts have termed this as an unusual situation. In a statement, the Ministry of Finance said that Pakistan’s current account surplus had reached $427 million by February. The 100 Index closed at 1,49,178 points on the last day of trade. The price of gold in local markets has seen a significant increase once again, as reported by the State Bank of Pakistan.
According to the data released by the State Bank of Pakistan, foreign investment has seen a significant decline due to the ongoing tensions in the Middle East. The Strait of Hormuz is responsible for approximately 20% of the world’s oil supply, and the ongoing tensions have affected oil supplies, putting pressure on Asian countries. The global market price of gold has decreased by $18, reaching $5000 per ounce. The government has said that it had delayed two cargo shipments this year, and Qatar has stopped supplying liquefied natural gas from March 2.
Secretary of Petroleum said that the ongoing tensions in the Middle East have affected oil supplies. Chairman of the Cotton and Ginners Forum, Ihsan ul Haq, said that there is a trend of increasing cotton prices. The price of gold in local markets has seen a significant decrease for the third consecutive day. The 100 Index closed at 1,53,866 points on the last day of trade. There has been a slight improvement in the Sensex, a benchmark index of the Indian stock market. The price of gold in local markets has seen a significant decrease for the third consecutive day.
DG ISPR said that the Afghan Taliban had used drones against Pakistan, which were supplied by India. Iranian missiles have hit several areas in Israel. A message on the social media platform Instagram said that a third daughter, Amira Maya, was born to Usman Khawaja on March 13. The President of Israel has called the new Iranian ballistic missile a significant challenge. Russia has paid tribute to the death of Ali Larijani, the head of Iran’s National Security Council. A large number of government officials, military leaders, and people from different sections of society attended the funeral.
