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Rupee Extends Winning Streak to 18 Sessions; SBP Cancels Exchange Firm Licence, Gold Holds at Record Highs

September 03, 2025

The Pakistani rupee extended its upward momentum on Tuesday, recording its 18th consecutive gain in the inter-bank market.

At close, the local currency settled at 281.72 per US dollar, appreciating by three paisa (0.01%) from Monday’s closing rate of 281.75, as per State Bank of Pakistan (SBP) data. Since August 6, 2025, the rupee has strengthened by a cumulative 95 paisa, reflecting sustained improvement in market sentiment.

In a regulatory development, the SBP revoked the licence of Money Masters Currency Exchange Company with immediate effect due to violations of regulatory instructions. Following this action, the company — including its head office and all outlets — is barred from undertaking any foreign exchange-related business activity.

Meanwhile, gold prices in Pakistan remained steady after hitting fresh records earlier this week. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), gold per tola stood unchanged at Rs370,700, while the rate for 10 grams remained at Rs317,815.

In the international market, gold surged past the $3,500 per ounce mark for the first time, reaching as high as $3,514 before stabilizing around $3,480.


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