May 26, 2021 (MLN): Pakistani rupee (PKR) on Wednesday continued its losing streak as the local currency shed 41 paisa against US Dollar (USD) to close at 154.78 in an interbank session.
On Tuesday, the PKR had closed at 154.37 per USD.
The rupee traded within a very narrow range of 60 paisa per USD, showing an intraday high bid of 154.80 and an intraday Low offer of 154.35.
Within the Open Market, PKR was traded at 154.60/155.50 per USD.
So far, the home unit has logged by PKR 13.26 or 8.57% gain against the greenback in FY21 while appreciation has been Rs 5.05 or 3.26% in CY21. MTD (month to date) position showed a decrease of 0.86%, as per data gathered by Mettis Global.
Meanwhile, the currency lost 4 paisa to the Pound Sterling as the day's closing quote stood at PKR 219.02 per GBP, while the previous session closed at PKR 218.98 per GBP.
Similarly, PKR's value weakened by 20 paisa against EUR which closed at PKR 189.4 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 mopped up Rs.61 billion for 2 days at 6.96 percent.
The overnight repo rate towards close of the session was 6.20/6.40 percent, whereas the 1 week rate was 6.75/6.90 percent.
