PKR depreciates by 69 paisa at interbank trade

June 07, 2021 (MLN): After gaining 17 paisa in the last trading session, the Pakistani rupee (PKR) on Monday depreciated by 69 paisa against US Dollar (USD) in an interbank session to close at 155.31 per USD.

On Friday, the home unit had closed at 154.62 against the greenback.

The rupee saw a volatility-free session as a very little movement was recorded trading in a range of 65 paisa per USD, showing an intraday high bid of 155.25 and an intraday Low offer of 154.75.

Within the Open Market, PKR was traded at 154.80/155.60 per USD.

According to the data gathered by Mettis Global, in FY21, the home unit has so far appreciated by PKR 12.74 or 8.20% against the greenback while it gained by around PKR 4.52 or 2.91% in CY21 with MTD (month to date) position showing a decrease of 0.59%.

Meanwhile, the currency lost 1 rupee to the Pound Sterling as the day's closing quote stood at PKR 219.38 per GBP, while the previous session closed at PKR 218.35 per GBP.

Similarly, PKR's value weakened by 1.5 rupees against EUR which closed at PKR 188.83 at the interbank today.

On another note, within the money market, the overnight repo rate towards the close of the session was 6.70/6.90 percent, whereas the 1-week rate was 6.95/7.05 percent.

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