June 06, 2023 (MLN): The Pakistani rupee (PKR) depreciated by 37 paisa against the US dollar in today's interbank session as the currency settled the trade at PKR 286.56 per USD, compared to the previous session's closing of PKR 286.19 per USD.
Throughout today’s session, the local unit traded in a band of 145 paisa, showing an intraday high bid of 286.85 and a low offer of 285.7 per USD while in the open market, the dollar was traded at 304/308 per USD.
Meanwhile, the currency lost 82 paisa to the Pound Sterling as the day's closing quote stood at PKR 355.92 per GBP, while the previous session closed at PKR 355.1 per GBP.
Similarly, PKR's value weakened by 48 paisa against EUR which closed at PKR 306.59 at the interbank today.
In FYTD, PKR lost 81.71 rupees or 28.52%, while it plummeted by 60.13 rupees or 20.98% against the USD in CYTD. Within the last seven sessions, the local unit moved down by 0.42%, as per data compiled by Mettis Global.
On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation (OMO) in which it mopped up a total of Rs433.4 billion from the market.
The overnight repo rate towards the close of the session was 20.50/20.75%, whereas the 1-week rate was 20.55/20.65%.
