PKR trades 12 paisa higher against USD

May 04, 2021 (MLN): Pakistani rupee (PKR) on Tuesday settled 12 paisa higher against US Dollar (USD) in interbank session as the currency closed the day's trade at PKR 153.24 per USD, extending its gains for the straight fifth day.

On Monday, the domestic currency had closed at PKR 153.36 per USD in interbank forex market.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 26 paisa per USD showing an intraday high bid of 153.42 and an intraday Low offer of 153.20.

Within the Open Market, PKR was traded at 153/154 per USD.

So far, the local unit has logged by PKR 14.81 or 9.66% gain against the greenback in FY21 while appreciation has been PKR 6.59 or 4.30% in CY21. MTD (month to date) position showed an increase of 0.14%, as per data compiled by Mettis Global.

Alternatively, the currency lost 23 paisa to the Pound Sterling as the day's closing quote stood at PKR 212.43 per GBP, while the previous session closed at PKR 212.2 per GBP.

On the other hand, PKR's value strengthened by 47 paisa against EUR which closed at PKR 184.07 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.148 billion for 3 days at 7.06 percent.

The overnight repo rate towards close of the session was 7.00/7.25 percent, whereas the 1 week rate was 7.05/7.15 percent.

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