Rupee appreciates by 26 paisa against greenback

December 01, 2022 (MLN): Pakistani rupee (PKR) appreciated by 26 paisa against the US Dollar in today's interbank session as the currency closed the day's trade at PKR 223.69 per USD, against yesterday's closing of PKR 223.95 per USD.

During the session, the rupee traded in a band of 51 paisa per USD showing an intraday high bid of 224 and low offer of 223.49 while in the open market, PKR was traded at 228.75/231 per USD.

During the meeting on Wednesday Finance Minister said various measures were taken by the federal government to stabilize the economy.

Further, he hoped that the results of these measures will soon be reflected in enhanced economic activity.

The government is working hard to stop the smuggling of dollars to neighboring countries, Dar told a meeting on Wednesday.

In FYTD, PKR lost 18.84 rupees or 8.42%, while it plummeted by 47.17 rupees or 21.09% against the USD in CYTD, as per data compiled by Mettis Global.

Alternatively, the currency lost 2.3 rupees to the Pound Sterling as the day's closing quote stood at PKR 270.17 per GBP, while the previous session closed at PKR 267.91 per GBP.

Similarly, PKR's value weakened by 87 paisa against EUR which closed at PKR 232.76 at the interbank today.

On another note, within the money market, the overnight repo rate towards the close of the session was 15.10/15.25 percent, whereas the 1-week rate was 15.85/15.95 percent.

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