Intraday report: PKR appreciates by 1.11 rupee against US dollar

MG News | December 31, 2021 at 11:35 AM GMT+05:00

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December 31, 2021 (MLN): Pakistani rupee (PKR) kicked off the last day of 2021 on the winning note as the currency gained further ground against the US dollar during the intraday trade of today’s session, appreciating by 1.11 rupees [11:34 PST].

Though Net Reserves with SBP fell by $298mn to $17.855bn, the presentation of the SBP amendment bill in the National Assembly (NA) can support rupee, Asad Rizvi, the former Treasury Head at Chase Manhattan hinted at the appreciation of the local unit in his early morning Tweet.

The last day of the year could be volatile due to squaring of position & if the outflow is small, then PKR will further recover, he added.

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