PKR touches 186/USD on political crises

By 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	128,199.43 336.91M	2.05% 2572.11
ALLSHR	79,787.62 1,023.63M	1.53% 1202.91
KSE30	39,105.00 121.90M	2.49% 951.21
KMI30	186,915.61 131.16M	1.10% 2029.11
KMIALLSHR	54,201.88 553.60M	0.81% 438.07
BKTi	33,476.68 51.49M	4.87% 1555.00
OGTi	27,962.58 9.77M	0.68% 188.60

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	106,395.00	106,490.00 105,440.00	645.00 0.61%
BRENT CRUDE	67.16	67.29 67.05	0.05 0.07%
RICHARDS BAY COAL MONTHLY	97.50	97.50 97.50	0.70 0.72%
ROTTERDAM COAL MONTHLY	103.80	103.80 103.80	-3.45 -3.22%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	65.48	65.65 65.34	0.03 0.05%
SUGAR #11 WORLD	15.70	16.21 15.55	-0.50 -3.09%