PKR loses over one rupee in early trade

MG News | May 09, 2022 at 10:07 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

May 09, 2022 (MLN): Pakistani rupee (PKR) has once again come under a strong spell of depreciation as the currency lost 1.27 rupees during early trade.

The dollar was quoted at 187.84/ 187.94 (10:06 PST) when compared to the previous close of 186.63.

Bleak macros along with delay in the IMF tranche have dragged PKR towards a bleak phase.

According to Asad Rizvi, the former Treasury Head at Chase Manhattan, “Widening of trade deficit to $39.26bn in 10MFY22 is caused by record-high imports that have surged to $65.49bn versus $44.73bn is not good news because oil prices are not easing.”

While drying up of remittances this week could delay PKR recovery, he added.

Copyright Mettis Link News

Related News

PKR stays firm against USD

NBP issues foreign exchange rates

PKR keeps climbing, dollar keeps slipping

Name	Price/Vol	%Chg/NChg
KSE100	162,896.68 169.98M	0.67% 1091.66
ALLSHR	98,449.69 389.81M	0.63% 617.70
KSE30	48,687.46 89.94M	0.72% 346.80
KMI30	233,849.31 94.62M	0.50% 1168.71
KMIALLSHR	64,048.09 199.49M	0.59% 373.04
BKTi	44,347.06 28.49M	1.07% 471.40
OGTi	34,422.95 8.77M	1.31% 443.56

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	76,355.00	77,425.00 76,120.00	-540.00 -0.70%
BRENT CRUDE	110.61	111.58 109.01	-1.49 -1.33%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-7.25 -6.18%
ROTTERDAM COAL MONTHLY	111.50	111.50 111.50	0.90 0.81%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	103.39	104.71 102.12	-0.99 -0.95%
SUGAR #11 WORLD	14.99	15.05 14.69	0.26 1.77%