PKR edges higher by 96 paisa in early trade

MG News | June 01, 2022 at 10:07 AM GMT+05:00

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June 01, 2022 (MLN): Extending its gaining momentum, the Pakistani rupee (PKR) has further appreciated in the interbank market by 96 paisa against the US dollar in early trade compared to the previous close at PKR 198.6 per USD.

The rupee was quoted at 197.51/ 197.71 (10:06 PST) with trades reported at 197.50.

The pace of recovery provides a good opportunity for overseas Pakistanis and exporters to offload their holdings. 6-months forward has already lost Rs3 to close at 205.74, Asad Rizvi, the Former Treasury Head at Chase Manhattan Bank said.

Agreement with IMF will give a further boost to PKR, he added.

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