KARACHI:Amid political crisis in the country, the rise in the dollar also had an effect on gold, as the price of gold per tola Tuesday increased by Rs800 to reach Rs132,000 amid dollar hike.

According to Sindh Sarafa Bazaar Association, the price of a 10-gram tola has increased by Rs686 to reach Rs113,169. In the international market, the price of per ounce gold has increased by US$2 to reach US$1928.

The Pakistani rupee has got a steep plunge against the US dollar after losing Rs1.14 in its value against the US dollar. With this new mind blowing sailing, the dollar rate has reached the historic high and is being traded at Rs185.23 in the inter-bank trading on Tuesday. The dollar is constantly gaining strides against the spineless rupee which has been greatly buffeted after weathering the political uncertainties at home.

President Karachi Chamber of Commerce and Industry (KCCI) Muhammad Idrees, while expressing deep concerns over continuous devaluation of rupee against dollar which hit a new all-time high by crossing Rs186, urged the State Bank of Pakistan (SBP) to play its role and devise effective strategy to stop further devaluation rupees which was having a deep negative impact on the economy, particularly the inflation.