September 7, 2021 (MLN): Pakistani Rupee (PKR) slid further against USD in today’s interbank session as the currency closed the trade at PKR167.63, depreciating by 40 paisa, against yesterday's closing of PKR 167.23 per USD.
The uncertain situation of Afghanistan has still accumulated pressure on PKR which has subdued the impact of positive economic developments.
According to Asad Rizvi, the Former Treasury Head at Chase Manhattan, “Market will keep good economic numbers on the sideline. Bad numbers will be the spoiler that will add pressure on the local unit until SBP takes charge.”
Within the Open Market, PKR was traded at 168/169.2 per USD.
According to the data compiled by Mettis Global, the rupee has depreciated by 6.02% or PKR 10.08 in the fiscal year-to-date against USD. Similarly, the home unit has weakened by 4.65% or PKR 7.79 in CY21 with the month-to-date (MTD) position showing a decline of 0.74%.
Meanwhile, the currency lost 8 paisa to the Pound Sterling as the day's closing quote stood at PKR 231.57 per GBP, while the previous session closed at PKR 231.49 per GBP.
Similarly, PKR's value weakened by 52 paisa against EUR which closed at PKR 198.93 at the interbank today.
