PKR depreciates further in interbank trade

MG News | July 19, 2021 at 11:08 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

July 19, 2021 (MLN): The Pakistani Rupee (PKR) continued to lose its value against the US Dollar (USD) in the interbank market as it depreciated by 70 paisa with the dollar being quoted at 160.65/160.75 [11:00 am] compared to Friday close.

The rupee has depreciated by 5.24% since its highest value just two months ago and has lost 1.96% since the beginning of FY22.

According to Asad Rizvi, CEO of CMKA, the rupee is under pressure because of holidays in the Middle East and a shortened week in Pakistan, resulting in no remittances.

Posting views on his social media account, he said, “In Pakistan, we have two working days this week. The gulf market will remain closed. This means no remittances are expected from Middle Eastern countries. Eid Holidays is an annual routine, but it will add pressure. Therefore, I do not see any respite in the next 7-10 days.”

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	162,374.88 110.96M	-0.95% -1549.44
ALLSHR	98,620.11 386.58M	-0.91% -906.77
KSE30	47,823.16 51.47M	-1.02% -490.65
KMI30	232,733.99 57.93M	-1.23% -2903.19
KMIALLSHR	63,955.68 197.75M	-1.12% -727.41
BKTi	44,724.17 14.61M	-1.01% -457.04
OGTi	33,033.72 5.00M	-1.08% -361.88

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,575.00	82,030.00 80,990.00	120.00 0.15%
BRENT CRUDE	116.99	117.45 112.74	3.82 3.38%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	-1.55 -1.19%
ROTTERDAM COAL MONTHLY	147.10	0.00 0.00	1.80 1.24%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	103.15	103.30 98.84	3.68 3.70%
SUGAR #11 WORLD	20.16	20.51 20.02	0.03 0.15%