PKR extends gains for 4th day against USD

May 03, 2021 (MLN): Continuing its winning streak for the fourth consecutive day, the Pakistani rupee (PKR) on Monday appreciated by 9 paisa against US Dollar (USD) in interbank session as the currency closed the day's trade at PKR 153.36 per USD, against last session's closing of PKR 153.45 per USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 36 paisa per USD showing an intraday high bid of 153.42 and an intraday Low offer of 153.15.

Within the Open Market, PKR was traded at 153.20/154.00 per USD.

In FYTD, the local unit, so far, has gained PKR 14.69 or 9.58% while the appreciation has been PKR 6.47 or 4.22% against USD in CY21 with an MTD appreciation of 0.06%, as per data compiled by Mettis Global.

Meanwhile, the currency gained 1.8 rupees against the Pound Sterling as the day's closing quote stood at PKR 212.2 per GBP, while the previous session closed at PKR 213.95 per GBP.

Similarly, PKR's value strengthened by 1.3 rupees against EUR which closed at PKR 184.54 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 7.00/7.10 percent, whereas the 1 week rate was 7.05/7.15 percent.

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