PKR drops by 1.3 rupees against USD

April 11, 2023 (MLN): Bleeding further, the Pakistani rupee (PKR) depreciated by 1.3 rupees against the US dollar in today's interbank session as the currency settled the trade at PKR 288.43 per USD, compared to yesterday's close of PKR 287.09 per USD.

Throughout today’s session, the local unit traded in a band of 1.6 rupees, showing an intraday high bid of 288.6 and low offer of 287.5 while in the open market, PKR was traded at 292/295 per USD.

Meanwhile, the currency lost 1.9 rupees to the Pound Sterling as the day's closing quote stood at PKR 358.4 per GBP, while the previous session closed at PKR 356.47 per GBP.

Similarly, PKR's value weakened by 1.1 rupees against EUR which closed at PKR 314.3 at the interbank today.

In FYTD, PKR lost 83.58 rupees or 28.98%, while it plummeted by 61.99 rupees or 21.49% against the USD in CYTD. On the other hand, within the last seven sessions, the local unit moved down by 0.39%, as per data compiled by Mettis Global.

On another note, within the money market, the overnight repo rate towards the close of the session was 21.5%/21.9%, whereas the 1-week rate was 21.05%/21.15%.

Copyright Mettis Link News