PKR weakens by 11 paisa against USD

MG News | September 02, 2021 at 04:45 PM GMT+05:00

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September 02, 2021 (MLN): Pakistani rupee (PKR) continued its downward journey as the home unit settled the day’s trade at 166.98 per USD, depreciating by 11 paisa in the interbank session, against yesterday's closing of PKR 166.87 against greenback.

The rupee traded within a very narrow range of 25 paisa per USD showing an intraday high bid of 167.20 and an intraday Low offer of 166.99.

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

The home unit has depreciated by 5.65% and 4.28% in FY22 and CY21, respectively with the month-to-date (MTD) position showing a drop of 3.39%, as per the data gathered by Mettis Global.

Meanwhile, the currency lost 65 paisa to the Pound Sterling as the day's closing quote stood at PKR 230.21 per GBP, while the previous session closed at PKR 229.57 per GBP.

Similarly, PKR's value weakened by 63 paisa against EUR which closed at PKR 197.8 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 7.20/7.40 percent, whereas the 1 week rate was 7.10/7.15 percent.

Copyright Mettis Link News

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