PKR trades 53 paisa lower against USD

September 20, 2021 (MLN): After a successful round of holding ground, Pakistani rupee (PKR) kicked off the week by shedding its value by 53 paisa against greenback in interbank market as the currency closed the day's trade at PKR 168.72.

In the last session, the local unit had closed at PKR168.19 per USD.

The Rupee saw moderate volatility in today’s session and traded in a range of 0.75 rupees per USD showing an intraday high bid of 168.9 and an intraday Low offer of 168.15.

Within the Open Market, PKR was traded at 168.00/169.60 per USD.

The home unit has depreciated by 6.63% or PKR 11.17 in the fiscal year-to-date against the USD. Similarly, the rupee has weakened by 5.27% or PKR 8.88 in CY21, with the month-to-date (MTD) position showing a decline of 1.39%, as per data compiled by Mettis Global.

Alternatively, the currency gained 1.5 rupees against the Pound Sterling as the day's closing quote stood at PKR 230.71 per GBP, while the previous session closed at PKR 232.19 per GBP.

Similarly, PKR's value strengthened by 52 paisa against EUR which closed at PKR 197.57 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 7.10/7.20 percent, whereas the 1 week rate was 7.10/7.20 percent.

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