PKR weakens by 2.3 rupees against greenback

May 21, 2019 (MLN): Pakistani rupee (PKR) depreciated by 2.3 rupees against US Dollar (USD) at today's interbank session as the currency closed the day's trade at PKR 151.92 per USD, against previous session's closing of PKR 149.65 per USD.

Meanwhile, the currency lost 2.1 rupees against Pound Sterling as the day's closing quote stood at PKR 192.82 per GBP, while the previous session closed at PKR 190.71 per GBP.

Similarly, PKR's value weakened by 2.5 rupees against EUR which closed at PKR 169.4 at the interbank today.

Within the Open Market, PKR was traded at 152/153.2 per USD.

This round of depreciation further weighs down Pakistan's external debt burden by Rs.240.61 billion which in dollar terms account for a $105.84 billion. Pakistan now owes external avenues a total of Rs.16.08 trillion.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it mopped up Rs.68.7 billion for 2 days at 12.2 percent.

The overnight repo rate towards close of the session was 10.75/11.25 percent, whereas the 1 week rate was 11.50/12.00 percent.

Copyright Mettis Link News

Posted on: 2019-05-21T15:19:00+05:00

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