September 12, 2022 (MLN): In the backdrop of dismal macros, political uncertainty, and increased dollar demand, the Pakistani rupee (PKR) depreciated by 1.6 rupees against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 229.82 per USD, against last session's closing of PKR 228.18 per USD.
During the session, rupee traded in a range of 2 rupees per USD showing an intraday high bid of 230 and an intraday Low offer of 228.4.
Within the Open Market, PKR was traded at 235/236 per USD.
Meanwhile, the currency lost 3.3 rupees to the Pound Sterling as the day's closing quote stood at PKR 268.59 per GBP, while the previous session closed at PKR 265.25 per GBP.
Similarly, PKR's value weakened by 3.4 rupees against EUR which closed at PKR 233.77 at the interbank today.
On another note, within the money market, the overnight repo rate towards close of the session was 14.75/15.10 percent, whereas the 1-week rate was 15.04/15.14 percent.
In FYTD, PKR lost 24.97 rupees or 10.87%, while it plummeted by 53.3 rupees or 23.2% against the USD in CYTD, as per data compiled by Mettis Global.
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During the last 52 weeks, PKR lost 26.86% against the greenback while reaching its lowest at 239.94 on July 28, 2022, and the highest at 168 on September 13, 2021.
Furthermore, the local unit has weakened by 17.12% against EUR when it was highest on March 07, 2022, while the rupee fell by 14.59% against GBP since its high on September 30, 2021.
In MTD, the local unit has weakened by 6.97%, 6.46%, 5.14%, 4.82%, 4.82%, 4.79%, 4.43%, and 2.06% against CHF, EUR, GBP, USD, AED, SAR, CNY, and JPY respectively.
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Posted on:2022-09-12T17:23:20+05:00
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