PKR depreciates by 4.6 rupees in early trade

MG News | May 16, 2019 at 10:26 AM GMT+05:00

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May 16, 2019 (MLN): Pakistani Rupee (PKR) has depreciated by 4.6 rupees against US Dollar during early trade at the interbank market, as the banks are currently quoting the currency at 146/147 per USD as compared to yesterday’s closing quote of PKR 141.39 per USD.

This movement in exchange rate was highly expected given the conditions attached with IMF agreement, but the timing of this fall has swung the markets by surprise as only yesterday the government had fixed the rates at PKR 143.5/144 and also warned the exchange agencies against deviating from these rates.

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