Escalating US-Iran tensions in the Middle East caused oil prices to surge, reigniting fears of inflationary pressure in energy-dependent countries like Pakistan and contributing to the PSX's 2,321-point decline. Pakistan's current account deficit reached $649 million in June, with the Real Effective Exchange Rate (REER) climbing to 106.44. These geopolitical and domestic economic factors, especially higher oil costs, could exert pressure on the USD/PKR rate and potentially increase the appeal of gold as a safe haven in Pakistan.
بحوالہ / Source: www.dawn.com