What "silver rate per tola" means
A tola is the traditional South Asian weight unit for precious metals. Sarafa (bullion and jewellery) markets in Pakistan quote both gold and silver per tola. Many shops and news reports also show the price per gram or per ten grams, and some show it per kilogram.
The tola is a fixed weight. The silver tola to gram conversion is the same as for gold, because it measures weight, not the metal. Our page on tola, masha and ratti shows the exact conversion and the smaller units. The weight conversion in the gold tola calculator also works for silver.
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How the silver rate in Pakistan is formed
The local chandi rate follows the same steps as the gold rate:
- International price. Silver trades worldwide in US dollars per troy ounce. Trading platforms often show this price as the symbol XAGUSD.
- Exchange rate. The dollar price is converted into rupees at the market USD/PKR rate. A weaker rupee raises the local silver price even when the world price does not move. See SBP exchange rates.
- Weight conversion. The price per troy ounce is converted into a price per tola.
- Local premium or discount. Import costs, duties, local supply and demand, and dealer margins can move the local rate above or below the plain conversion.
- Daily announcement. Sarafa associations in the main cities publish a daily rate. Shops use it as a reference, but the price a shop quotes can differ from it.
Reading "silver price today in Pakistan"
When you look up today's silver price, check these points:
- Unit. Per tola, per ten grams or per kilogram. Compare like with like.
- Purity. Quoted rates usually refer to fine (pure) silver. Jewellery silver is often an alloy and is worth less per tola.
- Buying and selling. Dealers buy from you at a lower rate than they sell to you.
- Time. The rate can change during the day as the world price and USD/PKR move.
- Making charges. Silver jewellery and utensils carry labour charges that you usually do not get back on resale. The same logic is explained in making charges and resale.
For the official daily figure, check the announcement of your city's sarafa association. For tax rules on buying or holding precious metals, check current notices from the Federal Board of Revenue (FBR). This page does not quote either source's figures, so always note the date of any rate you rely on.
Silver rate versus silver on trading platforms
The tola rate is the price of physical metal you can hold. A silver CFD on a trading platform is different. A CFD (contract for difference) is a contract on the price movement, usually traded with leverage. Leverage means a small move in the price can cause a large gain or loss in your account. Leveraged CFD trading can lose money fast.
Pakistani regulators have also warned about offshore platforms. Their position is that per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse, and that per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947. Read Law and regulators and Metals before you compare the two.
Frequent questions
What is the chandi rate per tola?
It is the price of one tola of fine silver in rupees, as quoted by sarafa markets. It follows the world silver price, the USD/PKR rate and local market conditions.
How do I convert silver from tola to grams?
Use the same conversion as for gold. The tola, masha and ratti page lists it, and the gold tola calculator does the weight conversion for you.
Why is my shop's price different from the published rate?
Shops add their own margin. They may also quote a different purity, include making charges, or use a rate from another time of day.
Does the silver rate change with the dollar?
Yes. Silver is priced internationally in US dollars, so a change in USD/PKR moves the rupee price. See Exchange rates.
Where can I check the official silver rate?
Check the daily announcement of your city's sarafa association, and check the FBR for tax rules. Note the date of any figure you use.