PKR gains 54 paisa at the end of a volatile session

May 24, 2019 (MLN): At the end of a highly volatile trading session, the Pakistani rupee (PKR) appreciated by 54 paisa against US Dollar (USD) today as the currency closed at PKR 150.92 per USD, against previous session's closing of PKR 151.45 per USD.

During the week, the currency has lost 3 rupees against the greenback, as the previous week was concluded at PKR 147.88 per USD. However, in the last two sessions at interbank, PKR appreciated by around Rs.1 from 151.9 per USD.

Meanwhile, the currency gained 2 paisa against Pound Sterling as the day's closing quote stood at PKR 191.19 per GBP, while the previous session closed at PKR 191.21 per GBP.

On the other hand, PKR's value weakened by 12 paisa against EUR which closed at PKR 168.84 at the interbank today.

Within the Open Market, PKR was traded at 151.00/152.50 per USD.

Compared to yesterday, Pakistan's external debt burden has eased by Rs.56.96 billion which in dollar terms account for a $105.84 billion. Pakistan now owes external avenues a total of Rs.15.97 trillion.

On another note, in the money market, the overnight repo rate towards close of the session was 11.50/12.00 percent, whereas the 1 week rate was 12.30/12.35 percent.

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