July 06, 2021 (MLN): Extending the losses for the third straight session, the Pakistani Rupee (PKR) on Tuesday weakened by 20 paisa against US Dollar (USD), mainly due to additional pressure of higher oil prices.
The home unit closed the day’s trade at PKR 158.37 per USD in the interbank session, against yesterday's closing of PKR 158.18 per USD.
The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 15 paisa per USD showing an intraday high bid of 158.40 and an intraday Low offer of 158.34.
Within the Open Market, PKR was traded at 158.80/159.40 per USD.
With respect to the ongoing calendar year 2021, the value PKR against dollar increased by 0.92% whereas the same has declined by 0.52% in FY22, as per data compiled by Mettis Global News.
Meanwhile, the currency lost 31 paisa to the Pound Sterling as the day's closing quote stood at PKR 219.44 per GBP, while the previous session closed at PKR 219.13 per GBP.
On the other hand, PKR's value strengthened by 14 paisa against EUR which closed at PKR 187.62 at the interbank today.
On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.140 billion for 3 days at 7.12 percent.
The overnight repo rate towards close of the session was 7.25/7.50 percent, whereas the 1 week rate was 7.10/7.15 percent.
