PKR gains 6 paisa in Interbank

March 01, 2022 (MLN): Pakistani rupee (PKR) kicked off the month on a positive note in today's interbank session as the currency closed the day's trade at PKR 177.41, appreciating by 6 paisa against the US dollar. 

The domestic unit had closed the month of February at PKR 177.47 per USD.

While enduring a dull trading session, the local unit has traded in a range of 15 paisa per USD showing an intraday high bid of 177.45 and an intraday low offer of 177.55.

Meanwhile, the local unit has lost Rs19.86 against the USD from July’21 to date, while it depreciated by 0.89 paisa in CY22 as per data compiled by Mettis Global.

On the other hand, the performance of PKR remained comparatively better against major currencies during the fiscal year to date as the local unit appreciated by 1.75%, 1.61%, 1.47%, 1.39% and 1.37% against AUD, EUR, CAD, CNY and CHF, respectively.

Within the open market, PKR was traded at 177.50/178.50 per USD.

Alternatively, the currency lost 58 paisa to the Pound Sterling as the day's closing quote stood at PKR 238.12 per GBP, while the previous session closed at PKR 237.54 per GBP.

Similarly, PKR's value weakened by 20 paisa against EUR which closed at PKR 198.75 at the interbank today.

On another note, within the money market, the overnight repo rate towards the close of the session was 9.80/9.90 percent, whereas the 1-week rate was 9.85/9.95 percent.

Copyright Mettis Link News