PKR appreciates by 6 paisa against greenback

November 25, 2021 (MLN): Pakistani rupee (PKR) managed to hold its ground in today’s interbank market session as the currency closed the trade at PKR174.98 per USD, appreciating by 6 paisa against yesterday's closing of PKR 175.04.

During the session, the local unit traded within a range of 1.15 rupees per USD showing an intraday high bid of 175.05 and an intraday Low offer of 173.90.

Within the Open Market, PKR was traded at 175.25/178 per USD.

The local unit has depreciated by 9.96% or PKR 17.43 in the fiscal year-to-date against the USD. Similarly, the rupee has weakened by 8.65% or PKR 15.14 in CY21, with the month-to-date (MTD) position showing a decline of 1.90%, as per the data compiled by Mettis Global.

Meanwhile, the currency gained 61 paisa against the Pound Sterling as the day's closing quote stood at PKR 233.55 per GBP, while the previous session closed at PKR 234.16 per GBP.

Similarly, PKR's value strengthened by 62 paisa against EUR which closed at PKR 196.31 at the interbank today.

On another note, within the money market, the overnight repo rate towards the close of the session was 8.70/8.85 percent, whereas the 1-week rate was 8.90/9.00 percent.

Copyright Mettis Link News