PKR touches 186/USD on political crises

MG News | April 06, 2022 at 11:00 AM GMT+05:00

0:00

April 06, 2022 (MLN): The devastating impact of the ongoing political crisis has continued to shake the stability in the interbank market to the core which has forced PKR towards a bottomless pit as the local unit has finally crossed PKR186 per US dollar in intraday trade on Wednesday.

The dollar was being quoted at PKR186/186.10(10:59 PST) when compared to the previous day’s close of 185.23.

The widening trade gap during 9MFY22 stood at $35.4 billion while melting foreign reserves, and delay in the IMF program have also weighed on PKR.

The sharp cut in imports may help ease PKR pressure, Asad Rizvi, the former Treasury Head at Chase Manhattan said.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	161,281.77 321.60M	-0.93% -1521.39
ALLSHR	97,970.36 897.81M	-0.89% -882.05
KSE30	48,994.96 132.16M	-1.02% -502.39
KMI30	231,448.14 91.20M	-1.31% -3070.88
KMIALLSHR	63,889.05 388.38M	-0.96% -621.10
BKTi	45,037.73 48.43M	-1.45% -662.00
OGTi	31,025.58 8.22M	-1.53% -480.71

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	100,900.00	107,770.00 100,250.00	-6170.00 -5.76%
BRENT CRUDE	64.42	64.80 63.82	-0.47 -0.72%
RICHARDS BAY COAL MONTHLY	87.00	87.00 86.50	1.30 1.52%
ROTTERDAM COAL MONTHLY	97.30	97.75 97.10	1.05 1.09%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.51	61.03 59.94	-0.54 -0.88%
SUGAR #11 WORLD	14.21	14.72 14.13	-0.44 -3.00%