PKR gains 5 paisa per USD

May 04, 2023 (MLN): The Pakistani rupee (PKR) on Thursday gained 5 paisa against the US dollar in today's interbank session as the currency settled the trade at PKR 283.82 per USD compared to yesterday's closing of PKR 283.88 per USD.

Throughout today’s session, the local unit traded in a band of 15 paisa, showing an intraday high bid of 283.95 and a low offer of 283.8 while in the open market, PKR was traded at 286.5/290 per USD.

Alternatively, the currency lost 1.1 rupees to the Pound Sterling as the day's closing quote stood at PKR 356.6 per GBP, while the previous session closed at PKR 355.5 per GBP.

Similarly, PKR's value weakened by 23 paisa against EUR which closed at PKR 313.71 at the interbank today.

In FYTD, PKR lost 78.97 rupees or 27.83%, while it plummeted by 57.39 rupees or 20.22% against the USD in CYTD. Within the last seven sessions, the local unit moved up by 0.03%, as per data compiled by Mettis Global.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation (OMO) in which it mopped up a total of Rs104 billion from the market.

The overnight repo rate towards the close of the session was 21.25%/21.5%, whereas the 1-week rate was 20.86%/20.96%.

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