{"id":16637,"date":"2025-08-14T09:04:26","date_gmt":"2025-08-14T09:04:26","guid":{"rendered":"https:\/\/ipp-news.com\/?p=16637"},"modified":"2025-08-14T09:04:26","modified_gmt":"2025-08-14T09:04:26","slug":"rupee-extends-rally-with-gains-of-20-paisa","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=16637","title":{"rendered":"Rupee extends rally with gains of 20 paisa"},"content":{"rendered":"
The Pakistani rupee extended its gains against the US dollar on Wednesday, rising 20 paisa, or 0.07%, in the inter-bank market. The currency closed at 282.22 compared to the previous day\u2019s closing level of 282.42.<\/p>\n

It was the rupee\u2019s fifth consecutive day of appreciation, driven by improved market sentiment amid an ongoing crackdown on illegal currency dealers and smugglers. Last week, a court handed five-year prison terms to three illegal currency traders and fined Rs1 million each for engaging in unlawful foreign exchange operations.<\/p>\n

In global trade, the US dollar slipped after soft US inflation data reinforced expectations of a Federal Reserve rate cut next month. Political developments in Washington, including President Donald Trump\u2019s moves to tighten control over US institutions, also weighed on the greenback.<\/p>\n

The dollar index hit a more than two-week low, making bullion cheaper for overseas buyers, while the yield on the benchmark 10-year Treasury note edged lower, according to Reuters.<\/p>\n

Meanwhile, gold prices in Pakistan inched lower, diverging from the international trend, where the metal gained on a weaker US dollar and falling Treasury yields. Mild US inflation data reinforced expectations of a Federal Reserve rate cut in September, with markets also factoring in the possibility of further easing later this year.<\/p>\n

In the local market, the price of gold per tola fell Rs200 to Rs358,100, according to the All Pakistan Sarafa Gems and Jewellers Association. The rate for 10 grams declined Rs171 to Rs307,013. On Tuesday, gold had dropped by Rs500 to Rs358,300 per tola.<\/p>\n

Interactive Commodities Director Adnan Agar said global gold prices were moving within a narrow range, with Wednesday\u2019s high at $3,370 per ounce and low at $3,342. \u201cThe market was trading at $3,355 and waiting for fresh triggers,\u201d he noted.<\/p>\n

Agar pointed to the upcoming geopolitical events, including a Russia-US-Ukraine summit this weekend, as potential drivers. \u201cIf the summit fails, gold prices are likely to rise. A breakthrough could push prices lower,\u201d he said.<\/p>\n

Agar added that markets were also looking ahead to the US Federal Reserve\u2019s policy decision next month, where there was a strong likelihood of an interest rate cut, a move that could further influence gold\u2019s direction.<\/p>\n

Spot gold gained 0.4% to $3,357.59 per ounce by 12:10 pm ET (1610 GMT). US gold futures for December delivery rose 0.3% to $3,408.50.<\/p>\n

\u201cGold is buoyant on heightened expectations of a September Fed rate cut, following benign inflation data and July\u2019s weak non-farm payrolls,\u201d said Nikos Tzabouras, senior market analyst at Tradu.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The Pakistani rupee extended its gains against the US dollar on Wednesday, rising 20 paisa, or 0.07%, in the inter-bank market. The currency closed at 282.22 compared to the previous day\u2019s closing level of 282.42. It was the rupee\u2019s fifth consecutive day of appreciation, driven by improved market sentiment amid an ongoing crackdown on illegal […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-16637","post","type-post","status-publish","format-standard","hentry","category-english-news"],"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/16637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16637"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/16637\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}