PKR ends 33 paisa lower on first trading day of FY22

July 02, 2021 (MLN): The Pakistani Rupee (PKR) on Friday fell on the first trading day of the financial year 2021-22. The home unit depreciated by 33 paisa against US Dollar (USD) in today's interbank session to close the day's trade at PKR 157.87 per USD, against last session's closing of PKR 157.54 per USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 26 paisa per USD, showing an intraday high bid of 157.92 and an intraday Low offer of 157.69.

During the week, the currency has lost 25 paisa against the greenback, as the previous week was concluded at PKR 157.62 per USD.

Within the Open Market, PKR was traded at 157.70/158.50 per USD.

Alternatively, the currency gained 71 paisa against the Pound Sterling as the day's closing quote stood at PKR 217.27 per GBP, while the previous session closed at PKR 217.98 per GBP.

Similarly, PKR's value strengthened by 49 paisa against EUR which closed at PKR 186.79 at the interbank today.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.2.03 trillion for 7 days at 7.06 percent.

The overnight repo rate towards close of the session was 7.00/7.20 percent, whereas the 1 week rate was 7.05/7.10 percent.

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Posted on: 2021-07-02T16:36:00+05:00