PKR loses 4 paisa against USD

November 04, 2021 (MLN): Snapping its 6-day winning streak, the Pakistani rupee (PKR) lost 4 paisa against the US dollar in today's interbank session as the currency closed the  trade at PKR 170.01

On Wednesday, the local unit had settled the trade at PKR 169.97 per USD after gaining 57 paisa.

The rupee traded in a range of 65 paisa per USD showing an intraday high bid of 170.35 and an intraday Low offer of 169.70.

Within the Open Market, PKR was traded at 169.50/171.30 per USD.

The domestic unit has depreciated by 7.33% or PKR 12.46 in the fiscal year-to-date against the USD. Similarly, the rupee has weakened by 5.99% or PKR 10.17 in CY21, with the month-to-date (MTD) position showing a decline of 0.97%, as per the data compiled by Mettis Global.

Meanwhile, the currency lost 58 paisa to the Pound Sterling as the day's closing quote stood at PKR 231.87 per GBP, while the previous session closed at PKR 231.29 per GBP.

On the other hand, PKR's value strengthened by 42 paisa against EUR which closed at PKR 196.41 at the interbank today.

On another note, within the money market, the overnight repo rate towards the close of the session was 7.50/7.65 percent, whereas the 1-week rate was 7.50/7.60 percent.

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