PKR appreciates by 28 paisa at interbank trade

March 16, 2021 (MLN): Pakistani rupee (PKR) closed today’s trade at 156.72 per US Dollar (USD) in the interbank market, its strongest level since March 09, 2020. It had closed at 157 per USD on Monday. The local unit appreciated by 28 paisa against USD during the day.

Moreover, MTD position showed an addition of 0.88% and CYTD 1.99%, while so far, in FYTD, the local currency has gained Rs 11.33 or 7.23% against USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 33 paisa per USD showing an intraday high bid of 156.83 and an intraday Low offer of 156.55.

Within the Open Market, PKR was traded at 156.60/157.20 per USD.

Meanwhile, the currency gained 2.3 rupees against the Pound Sterling as the day's closing quote stood at PKR 216.55 per GBP, while the previous session closed at PKR 218.84 per GBP.

Similarly, PKR's value strengthened by 42 paisa against EUR which closed at PKR 186.88 at the interbank today.

On another note, within the money market, the overnight repo rate towards the close of the session was 7.25/7.35 percent, whereas the 1-week rate was 7.05/7.15 percent.

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