PKR stays flat at 226.95 per USD

January 04, 2023 (MLN): Despite prevailing uncertainty, the Pakistani rupee (PKR) managed to find stable ground on Wednesday as the currency witnessed no major change from the previous closing and ended the session in the interbank market at PKR 226.95 per USD.

Within today’s session, the local unit traded in a band of 20 paisa per USD showing an intraday high bid of 226.90 and low offer of 226.40 while in the open market, PKR was traded at 233.75/236.08 per USD.

Meanwhile, the currency lost 2.3 rupees to the Pound Sterling as the day's closing quote stood at PKR 273.16 per GBP, while the previous session closed at PKR 270.9 per GBP.

Similarly, PKR's value weakened by 99 paisa against EUR which closed at PKR 240.59 at the interbank today.

In FYTD, PKR lost 22.10 rupees or 8.52%, while it plummeted by 0.25% against the USD in the last seven sessions, 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 15.60%/15.90%, whereas the 1-week rate was 15.15%/15.25%.

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