November 01, 2022 (MLN): Pakistani rupee (PKR) appreciated by 24 paisa against US Dollar in today's interbank session as the currency closed the day's trade at PKR 220.65 per USD, against yesterday's closing of PKR 220.89 per USD.     

The rupee endured a highly volatile trading session with quotes being recorded in a range of 0.6 rupees per USD showing an intraday high bid of 221.00 and an intraday Low offer of 220.40.         

Within the Open Market, PKR was traded at 224/226 per USD.                                   

While speaking to MG Link News, Ahsan Mehanti, CEO of Arif Habib Commodities said that the PKR appreciated on government’s decision for the clearance of a Letter of credit raising the limit to $100,000.

The other reason PKR gaining strength against the greenback is improved trade balance data and reduced number of imports.

Furthermore, hopes of flood relief support from the World Bank and the possibility of China’s debt rollover also impacted sentiments.                   

Copyright Mettis Link News

Posted on: 2022-11-01T17:19:08+05:00

News Id :35704