Dollar closes all-time high of PKR 169.6

News Image

By MG News | September 27, 2021 at 04:35 PM GMT+05:00

0:00

September 27, 2021 (MLN): While maintaining its dominancy in the interbank market against the Pakistani Rupee (PKR), the US dollar closed the trading session on Monday at an all-time high of 169.6.

The highest recorded close of greenback was169.116 against PKR, set on September 15, 2021.

The rupee endured a volatile session and moved within a range of 65 paisa per USD, showing an intraday high bid of 169.75 and an intraday Low offer of 169.10.

Expressing his view about the steps taken by the government to ease off the pressure from PKR, Asad Rizvi, the Former Treasury Head at Chase Manhattan said, “Tax break announced on Afghani imports may help for cash or barter trade based on policy.”

“But along with rising oil prices, both will add pressure on BOP,” he added.  

Hence, I still do not see respite for PKR as the payment size of oil tankers have substantially increased, he said.

Within the Open Market, PKR was traded at 169.50/171.80 per USD.

According to the data compiled by Mettis Global, the local unit has depreciated by 7.11% or PKR 12.05 in the fiscal year-to-date against the USD. Similarly, the rupee has weakened by 5.76% or PKR 9.76 in CY21, with the month-to-date (MTD) position showing a decline of 1.89%.

Meanwhile, the currency lost 56 paisa to the Pound Sterling as the day's closing quote stood at PKR 232.35 per GBP, while the previous session closed at PKR 231.79 per GBP.

On the other hand, PKR's value strengthened by 5 paisa against EUR which closed at PKR 198.38 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 injected Rs.78.5 billion for 4 days at 7.4 percent.

The overnight repo rate towards the close of the session was 7.30/7.40 percent, whereas the 1-week rate was 7.35/7.45 percent.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 133,403.19
324.46M
0.02%
33.04
ALLSHR 83,188.05
1,204.34M
0.13%
106.90
KSE30 40,651.46
104.88M
-0.13%
-53.85
KMI30 192,083.92
123.92M
-0.26%
-496.76
KMIALLSHR 55,847.70
679.22M
0.02%
11.98
BKTi 36,422.88
17.65M
0.29%
105.71
OGTi 28,437.61
10.77M
-0.37%
-105.35
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,075.00 109,685.00
107,680.00
620.00
0.57%
BRENT CRUDE 70.02 70.68
69.03
0.44
0.63%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.05
2.15%
ROTTERDAM COAL MONTHLY 106.65 106.65
106.25
0.50
0.47%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.18 68.91
67.33
0.25
0.37%
SUGAR #11 WORLD 16.15 16.37
16.10
-0.13
-0.80%

Chart of the Day


Latest News
July 08, 2025 at 11:29 PM GMT+05:00

PIA bidders shortlisted, Roosevelt JV gets green light


July 08, 2025 at 05:29 PM GMT+05:00

Money Link Exchange shuts down operations


July 08, 2025 at 04:41 PM GMT+05:00

Gold price in Pakistan rises Rs1,500 per tola


July 08, 2025 at 04:25 PM GMT+05:00

CCP clears 69 M&A deals in FY25



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg