PKR weakens by 6 paisa against greenback

September 22, 2022 (MLN): Pakistani rupee (PKR) depreciated by 6 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 239.71 per USD, against yesterday's closing of PKR 239.65 per USD.

During the session, the rupee traded in a range of 0.35 paisa per USD, showing an intraday high bid of 239.75 and an intraday Low offer of 239.75.

Within the Open Market, PKR was traded at 243/245.4 per USD.

Alternatively, the currency gained 7 paisa against the Pound Sterling as the day's closing quote stood at PKR 271.66 per GBP, while the previous session closed at PKR 271.74 per GBP.

Similarly, PKR's value strengthened by 47 paisa against EUR which closed at PKR 236.88 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 Rs335 billion for 8 days at 14.95 percent.

The overnight repo rate towards close of the session was 14.25/14.50 percent, whereas the 1-week rate was 14.86/14.96 percent.

In FYTD, PKR lost 34.86 rupees or 14.54%, while it plummeted by 63.19 rupees or 26.36% against the USD in CYTD, as per data compiled by Mettis Global.

During the last 52 weeks, PKR lost 29.48% against the greenback while reaching its lowest at 239.94 on July 28, 2022, and the highest at 169 on September 23, 2021.

Furthermore, the local unit has weakened by 18.21% against EUR when it was highest at 193.75 on March 07, 2022, and lowest at 244.94 on August 01, 2022. While the rupee fell by 15.56% against GBP since its high of 229.398 on September 30, 2021 and low of 292.4 on July 28, 2022.

In last 7-days, the local unit has weakened by 1.6%, 2.52%, 1.59%, 1.52%, 0.63%, 0.35%, and 0.10% against USD, JPY, AED, SAR, EUR, CHF, and CNY respectively. While it gained 0.15% of its value against GBP.

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