May 15, 2023 (MLN): The Pakistani rupee (PKR) managed to gain 11 paisa against the US dollar as the currency settled the trade at PKR 284.97 per USD, compared to the previous closing of PKR 285.08 per USD.

Throughout today’s session, the local unit traded in a band of 1.5 rupees, showing an intraday high bid of 286 and a low offer of 284.9 while in the open market, PKR was traded at 290/295 per USD.

In FYTD, PKR lost 80.11 rupees or 28.12%, while it plummeted by 58.54 rupees or 20.53% against the USD in CYTD. 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 20%/20.5%, whereas the 1-week rate was 20.55%/20.65%.

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Posted on: 2023-05-15T17:04:46+05:00