PKR falls by 25 paisa against USD

January 24, 2022 (MLN): Pakistani rupee (PKR) could not hold its ground in the interbank market for more than a day and offset its previous gain against the US dollar as the currency closed the trade at 176.49 per USD, depreciating by 25 paisa.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 51 paisa per USD showing an intraday high bid of 176.53 and an intraday low offer of 176.25.

From July’21 to date, the local unit has lost Rs18.94 against the USD. On the other hand, the rupee appreciated by 2 paisa in CY22, with the month-to-date (MTD) position showing an uptick of 0.01%, as per data compiled by Mettis Global.

Alternatively, the currency gained 12 paisa against the Pound Sterling as the day's closing quote stood at PKR 239.14 per GBP, while the previous session closed at PKR 239.26 per GBP.

On the other hand, PKR's value weakened by 23 paisa against EUR which closed at PKR 199.89 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 10.00/10.15 percent, whereas the 1-week rate was 9.85/9.95 percent.

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