PKR slides by 49 paisa against USD

September 1, 2021 (MLN): Pakistani Rupee maintained its losing streak in today’s interbank session as the currency closed at PKR 166.87, depreciating by 49 paisa, against yesterday’s closing of PKR 166.39 per USD.

The rupee traded within a very narrow range of 59 paisa per USD showing an intraday high bid of 166.95 and an intraday Low offer of 166.41.

Within the Open Market, PKR was traded at 167/168 per USD.

As per the data gathered by Mettis Global, the home unit has depreciated by 5.59% and 4.22% in FY22 and CY21, respectively with the month-to-date (MTD) position showing a drop of 3.32%.

Meanwhile, the currency lost 42 paisa to the Pound Sterling as the day's closing quote stood at PKR 229.57 per GBP, while the previous session closed at PKR 229.15 per GBP.

Similarly, PKR's value weakened by 41 paisa against EUR which closed at PKR 197.17 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was /1.50 percent, whereas the 1-week rate was /1.50 percent.

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