PKR regains almost all of yesterday’s losses

MG News | July 06, 2017 at 10:40 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

In a recent development after a bizarre day in the FX markets when the PKR depreciated 3percent in just one day against the 3 year average depreciation of 1 percent, the PKR recovered after today's open. The markets closed yesterday 108.25/108.35.

However, the markets opened today at 107.55/108.50.

In a matter of hours, the prices have regained all of its yesterday losses after a very strong worded statement was released by the Finance Minister.

Despite the SBP owning up to the depreciation, the Finance Minister Mr. Ishaq Dar was relatively unpleased with the situation and termed the exchange rate situation “artificial”. In order to keep a hold of the ongoing exchange rate situation the Finance Minister summoned all presidents of the banks in Pakistan.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,846.68 370.24M	-0.81% -1463.60
ALLSHR	108,777.96 842.70M	-0.57% -624.36
KSE30	53,571.08 118.45M	-0.81% -434.78
KMI30	253,007.72 126.35M	-1.06% -2717.47
KMIALLSHR	69,727.55 549.62M	-0.70% -488.73
BKTi	52,178.22 35.92M	-0.12% -62.01
OGTi	35,518.90 13.54M	-0.77% -274.36

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,290.00	64,610.00 63,880.00	170.00 0.27%
BRENT CRUDE	87.11	90.03 86.60	-0.61 -0.70%
RICHARDS BAY COAL MONTHLY	105.50	0.00 0.00	-4.00 -3.65%
ROTTERDAM COAL MONTHLY	122.00	122.00 122.00	0.75 0.62%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	81.68	84.61 81.44	-0.45 -0.55%
SUGAR #11 WORLD	16.72	16.72 16.33	0.25 1.52%