PKR continues to slide vs USD, down by 25 paisa

April 21, 2021 (MLN): The Pakistani rupee (PKR) continued its slide against US Dollar (USD) on Wednesday as it depreciated by 25 paisa in interbank session to close the day's trade at PKR 153.24 per USD on the back of demand for the dollar.

The local currency had closed at PKR 152.99 per USD last trading day.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 35 paisa per USD showing an intraday high bid of 153.30 and an intraday Low offer of 152.99.

Within the Open Market, PKR was traded at 153.00/153.50 per USD.

According to the data compiled by Mettis Global, MTD (month to date) position showed a decrease of 0.31% while so far in FYTD, the local currency has gained by PKR 14.82 or 9.67% against the greenback. In CY21, the appreciation has been PKR 6.60 or 4.31%.

Alternatively, the currency gained 40 paisa against the Pound Sterling as the day's closing quote stood at PKR 213.69 per GBP, while the previous session closed at PKR 214.09 per GBP.

Similarly, PKR's value strengthened by 59 paisa against EUR which closed at PKR 184.07 at the interbank today.

On another note, within the money market, the overnight repo rate towards the close of the session was 6.75/7.00 percent, whereas the 1-week rate was 6.95/7.05 percent.

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