PKR remains unchanged at 283.55 per USD

March 28, 2023 (MLN): The sliding Pakistani rupee (PKR) managed to hold its ground against the greenback in today’s session as the currency remained relatively unchanged at PKR 283.55 per USD.

Throughout today’s session, the local unit traded in a band of 26 paisa, showing an intraday high bid of 283.5 and low offer of 283.49 while in the open market, PKR was traded at 282.5/285.8 per USD.

Alternatively, the currency lost 2 rupees to the Pound Sterling as the day's closing quote stood at PKR 349.34 per GBP, while the previous session closed at PKR 347.38 per GBP.

Similarly, PKR's value weakened by 1.9 rupees against EUR which closed at PKR 307.06 at the interbank today.

In FYTD, PKR lost 78.70 rupees or 27.76%, while it plummeted by 56.12 rupees or 20.15% against the USD in CYTD. On the other hand, within the last seven sessions, the local unit moved up by 0.13%, as per data compiled by Mettis Global.

On another note, within the money market, the overnight repo rate towards the close of the session was 19.5%/19.75%, whereas the 1-week rate was 19.75%/19.85%.

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