Pakistan's domestic debt soars by Rs8tr within a year
Business
The dollar started to rise again in the interbank market after continuous decline for two days
ISLAMABAD (Dunya News) - Pakistan's domestic loans skyrocketed by Rs8 trillion increase during the current fiscal year as compared to the corresponding year.
According to the State Bank of Pakistan, by the end of May 2023, the volume of domestic loans reached 37 trillion rupees, showing a 28 per cent increase from May 2022 to May 2023.
On the other hand, merely two days after staff level agreement with the IMF, the dollar again started ascending against rupee along with the upward journey of gold prices. Whereas, over the past two days, dollar decreased by 10 rupees against the rupee, but the streak could not be sustained.
On the third day of current business week, the dollar started to rise again in the interbank market. After an increase of 1 rupee and 97 paisa dollar was closed at 277 rupees and 41 paisa, whereas it is being sold at 280 rupees with an increase of 1 rupee in the open market.
Despite an international decrease, gold prices marked a rise in Pakistan’s local markets. The international market witnessed a decrease of $1 per ounce, bringing the price to $1,928 per ounce.
In Pakistan, the per tola gold prices increased by 1,000 rupees, as compared to 858 rupees hike in per 10 grams price. After the price hikes, the gold was being traded at 206,000 rupees per tola and 176,612 rupees per 10 grams.
