PKR remains unchanged at 225.43 per USD

December 22, 2022 (MLN): Pakistani rupee (PKR) held its ground against the greenback in today’s interbank session as the local unit settled the trade at PKR 225.43 per US dollar.

During the session, the rupee traded in a band of 20 paisa per USD showing an intraday high bid and low offer of 225.50 while in the open market, PKR was traded at 232.19/234.52 per USD.

The looming threat of economic crisis has kept the local unit under pressure for a long time. Meanwhile, the absence of foreign inflows from friendly countries and a continuous decrease in remittances, the rupee may come under pressure in days to come.

In FYTD, PKR lost 20.58 rupees or 9.13%, while it plummeted by 48.91 rupees or 21.70% against the USD in CYTD, as per data compiled by Mettis Global.

Alternatively, the currency gained 87 paisa against the Pound Sterling as the day's closing quote stood at PKR 273.06 per GBP, while the previous session closed at PKR 273.93 per GBP.

On the other hand, PKR's value weakened by 27 paisa against EUR which closed at PKR 239.79 at the interbank today.

On another note, within the money market, the overnight repo rate towards the close of the session was 16.00/16.20 percent, whereas the 1-week rate was 15.85/15.95 percent.

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