PKR weakens by 34 paisa against greenback

June 23, 2021 (MLN): Pakistani rupee (PKR) depreciated by 34 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 158.53 per USD, against yesterday's closing of PKR 158.19 per USD.

The rupee saw a volatility free session as very little movement was recorded trading in a range of 44 paisa per USD, showing an intraday high bid of 158.50 and an intraday Low offer of 158.15.

Within the Open Market, PKR was traded at 158.5/159 per USD.

According to the data gathered by Mettis Global, so far, the local currency has gained 6.01 percent against the greenback in FY21 while the appreciation has been 0.82 percent in CY21 with a month-to-date position showing a decrease of 2.61 percent.

Meanwhile, the currency lost 1.8 rupees to the Pound Sterling as the day's closing quote stood at PKR 221.27 per GBP, while the previous session closed at PKR 219.47 per GBP.

Similarly, PKR's value weakened by 1.1 rupees against EUR which closed at PKR 189.21 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 6.60/6.70 percent, whereas the 1 week rate was 6.90/7.00 percent.

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