PKR weakens by 23 paisa against greenback

June 10, 2021 (MLN): Pakistani rupee (PKR) depreciated by 23 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 155.92 per USD, against yesterday's closing of PKR 155.69 per USD.

The rupee traded within a very narrow range of 34 paisa per USD showing an intraday high bid of 155.94 and an intraday Low offer of 155.70.

Within the Open Market, PKR was traded at 155.50/156.20 per USD.

According to the data gathered by Mettis Global, in FY21, the home unit has so far appreciated by PKR 12.13 or 7.78% against the greenback while it gained by around PKR 3.92 or 2.51% in CY21 with MTD (month to date) position showing a decrease of 0.97%.

Alternatively, the currency gained 1.2 rupees against the Pound Sterling as the day's closing quote stood at PKR 219.63 per GBP, while the previous session closed at PKR 220.8 per GBP.

Similarly, PKR's value strengthened by 6 paisa against EUR which closed at PKR 189.7 at the interbank today.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it mopped up Rs.100 billion for 1 day at 6.95 percent.

The overnight repo rate towards close of the session was 6.85/7.00 percent, whereas the 1 week rate was 7.00/7.05 percent.

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