April 20, 2021 (MLN): Despite the announcement of rolling back of pending payment of USD 2 billion from UAE, the Pakistani Rupee (PKR) on Tuesday witnessed to continue its downward trend against US Dollar (USD).
In today's interbank session, PKR depreciated by 6 paisa against the greenback as the currency closed the day's trade at PKR 152.99 per USD, against yesterday's closing of PKR 152.93 per USD.
The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 12 paisa per USD showing an intraday high bid of 153.00 and an intraday Low offer of 152.92.
Within the Open Market, PKR was traded at 152.80/153.20 per USD.
According to the data compiled by Mettis Global, the local currency, so far, has gained by PKR 15.06 or 9.84% against the greenback in FY21 while appreciation has been PKR 6.84 or 4.47% in CY21. MTD (month to date) position showed a decrease of 0.15%.
Meanwhile, the currency lost 1.9 rupees to the Pound Sterling as the day's closing quote stood at PKR 214.09 per GBP, while the previous session closed at PKR 212.23 per GBP.
Similarly, PKR's value weakened by 91 paisa against EUR which closed at PKR 184.66 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.78.35 billion for 3 days at 7.1 percent.
The overnight repo rate towards close of the session was 7.50/7.80 percent, whereas the 1 week rate was 7.10/7.20 percent.
