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PKR depreciates by 1.6 rupees against USD

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September 15, 2022 (MLN): 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 235.88 per USD, against yesterday's closing of PKR 234.32 per USD.

During the session, the rupee traded in a range of 1.75 rupees per USD, showing an intraday high bid of 236 and an intraday Low offer of 234.6.

Within the Open Market, PKR was traded at 299/241 per USD.

Meanwhile, the currency lost 2 rupees (0.74%) to the Pound Sterling as the day's closing quote stood at PKR 272.07 per GBP, while the previous session closed at PKR 270.05 per GBP.

Similarly, PKR's value weakened by 1.3 rupees (0.57%) against EUR which closed at PKR 235.39 at the interbank today.

In terms of other currencies, the local unit has weakened by 0.67%, 0.66%, 0.56%, 0.51%, and 0.51% against AED, SAR, CNY, CHF, and JPY respectively.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs600.5 billion into the market for 1 day at 15.25%.

The overnight repo rate towards close of the session was 15.10/15.20 percent, whereas the 1-week rate was 15.15/15.25 percent.

In FYTD, PKR lost 31 rupees or 13.16%, while it plummeted by 59.4 rupees or 25.17% against the USD in CYTD, as per data compiled by Mettis Global.

During the last 52 weeks, PKR lost 28.7% against the greenback while reaching its lowest at 239.94 on July 28, 2022, and the highest at 168.17 on September 16, 2021.

Furthermore, the local unit has weakened by 17.69% against EUR when it was highest at 193.75 on March 07, 2022, and lowest at 244.94 on August 01, 2022. While the rupee fell by 15.68% against GBP since its high of 229.398 on September 30, 2021.

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Posted on:2022-09-15T16:39:42+05:00


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