PKR sheds 13 paisa per USD

March 31, 2023 (MLN): The Pakistani rupee (PKR) depreciated by 13 paisa against the US Dollar (USD) in today's interbank session as the currency settled the day's trade at PKR 283.79 per USD compared to the previous close of PKR 283.66 per USD.

Throughout today’s session, the local unit traded in a band of 50 paisa, showing an intraday high bid of 283.75 and a low offer of 283.60 while in the open market, PKR was traded at 284/287 per USD.

During the week, the currency lost 60 paisa against the greenback, as the previous week was concluded at PKR 283.2 per USD.

Meanwhile, the currency lost 1.5 rupees to the Pound Sterling as the day's closing quote stood at PKR 351.66 per GBP, while the previous session closed at PKR 350.2 per GBP.

Similarly, PKR's value weakened by 1.6 rupees against EUR which closed at PKR 309.39 at the interbank today.

In FYTD, PKR lost 78.94 rupees or 27.82%, while it plummeted by 57.36 rupees or 20.21% against the USD in CYTD. On the other hand, within the last seven sessions, the local unit moved down by 0.21%, 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 19.1%/19.25%, whereas the 1-week rate was 19.65%/19.75%.

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