Pakistani Rupee holds its ground

MG News | May 31, 2021 at 03:47 PM GMT+05:00

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May 31, 2021 (MLN): Pakistani rupee (PKR) on Monday closed the trading session relatively unchanged at 154.4 against the US Dollar (USD) in an interbank forex market.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 33 paisa per USD showing an intraday high bid of 154.43 and an intraday Low offer of 154.20.

Within the Open Market, PKR was traded at 154.50/155.50 per USD.

According to the data compiled by Mettis Global, in FY21, the home currency has strengthened by PKR 13.65 or 8.84% against the greenback so far while it appreciated by around PKR 5.43 or 3.52% in CY21 with MTD (month to date) position showing a decrease of 0.61%.

Meanwhile, the currency gained 44 paisa against the Pound Sterling as the day's closing quote stood at PKR 218.81 per GBP, while the previous session closed at PKR 219.24 per GBP.

On the other hand, PKR's value weakened by 0 paisa against EUR which closed at PKR 188.33 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 7.24/7.40 percent, whereas the 1 week rate was 7.10/7.15 percent.

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