PKR appreciates by 10 paisa, breaks a 14 session long streak

MG News | May 02, 2019 at 04:57 PM GMT+05:00

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May 2, 2019 (MLN): Ahead of the approaching month of Ramadan, Pakistani Rupee (PKR) appreciated by 10 paisa against US dollar (USD) at today’s interbank trade, marking a notable change after staying put in the previous 14 trading session.

The appreciation in PKR comes about as overseas Pakistani remit excessively in light of the Ramadan season, which starts from next week.

Similarly, the currency appreciated by 12 paisa against EUR, being quoted at PKR 158.41 against last session’s closing of PKR 158.52.

On the other hand, the value of PKR against GBP has depreciated by 98 paisa as it closed the day at PKR 184.57 against last session’s closing of PKR 183.59.

Today’s open market rates were quoted at PKR 141.10/142.30.

Meanwhile in the money market, the overnight repo rate towards close of session was 10.40/10.80 percent and 1 Week rate was 10.55/10.75 percent.

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