PKR gains more than three rupees in intraday

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MG News | April 08, 2022 at 12:24 PM GMT+05:00

April 08, 2022 (MLN): After enduring a bleak phase of depreciation for over a month, the Pakistani rupee (PKR) on Friday has taken a U-turn as the currency started gaining its ground back. In the intraday trade the local unit has recovered by 3.18 rupees [12:25 PST] against the US dollar.

At the same time, the dollar was being quoted at 185/185.50 when compared to the previous close of Rs188.18.

This notable appreciation is linked to the SBP's bold move to raise the policy rate by 250bps.  

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