Fitch downgrades Pakistan’s rating

Fitch Ratings downgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to “CCC-” from “CCC+”. The downgrade reflects further sharp deterioration in external liquidity and funding conditions and the decline of foreign exchange.

Gold price in Pakistan falls

Gold prices in Pakistan witnessed a steep decline on Tuesday amid ongoing economic uncertainty in the country. According to All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats).