PKR appreciates further, gains 16 paisa to 153.02 against USD

April 08, 2021 (MLN): Pakistani rupee (PKR) appreciated by 16 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 153.02 per USD, against yesterday's closing of PKR 153.18 per USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 15 paisa per USD showing an intraday high bid of 153.00 and an intraday Low offer of 152.90.

Within the Open Market, PKR was traded at 152.80/153.40 per USD.

As weekly Pakistan's forex reserves data will be released by SBP today, Asad Rizvi, Former Treasury Head Chase Manhattan Bank, in an opening note, said via his Twitter handle,Today market will be looking for weekly FX Reserves update. No major changes are expected as payments are on hold, relief is provided by donors. Waiting for EURO BOND FUNDS confirmation. SBP’s last week FX data included IMF TRANCHE.

So far, PKR has gained by Rs 15.03 or 9.83% against the greenback in FY21 while appreciation has been Rs 6.82 or 4.46% in CY21. MTD (month to date) position witnessed a decrease of 0.17%, as per data compiled by Mettis Global.

Meanwhile, the currency gained 1.6 rupees against the Pound Sterling as the day's closing quote stood at PKR 210.25 per GBP, while the previous session closed at PKR 211.85 per GBP.

Similarly, PKR's value strengthened by 52 paisa against EUR which closed at PKR 181.54 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 6.90/7.00 percent, whereas the 1 week rate was 7.00/7.05 percent.

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Posted on: 2021-04-08T17:16:00+05:00