PKR depreciates by 1.1 rupees over the week

May 21, 2021 (MLN): Pakistani rupee (PKR) snapped its four-day losing streak and closed 10 paisa higher to 153.36 agaisnt US Dollar (USD) in today's interbank session against yesterday's closing of PKR 153.46 per USD.

The rupee traded within a very narrow range of 14 paisa per USD, showing an intraday high bid of 153.45 and an intraday Low offer of 153.35.

During the week, the currency has lost 1.1 rupees against the greenback, as the previous week was concluded at PKR 152.28 per USD.

Within the Open Market, PKR was traded at 153/153.80 per USD.

So far in FY21, the home unit has gained by PKR 14.69 or 9.58% against the greenback while it appreciated by PKR 6.48 or 4.22% in CY21 with MTD (month to date) position showing an increase of 0.06%, as per data gathered by Mettis Global.

Alternatively, the currency lost 92 paisa to the Pound Sterling as the day's closing quote stood at PKR 217.47 per GBP, while the previous session closed at PKR 216.56 per GBP.

Similarly, PKR's value weakened by 32 paisa against EUR which closed at PKR 187.35 at the interbank today.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.2.44 trillion for 7 days at 7.05 percent.

The overnight repo rate towards close of the session was 7.00/7.20 percent, whereas the 1 week rate was 7.05/7.15 percent.

Copyright Mettis Link News

Posted on: 2021-05-21T16:36:00+05:00

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