PKR weakens by 9 paisa against greenback

MG News | August 12, 2021 at 03:47 PM GMT+05:00

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August 12, 2021 (MLN): Pakistani rupee (PKR) slid by 9 paisa against US Dollar in the second consecutive interbank session today as the currency closed the day's trade at PKR 164.01 per USD

On Wednesday, the local unit had closed at PKR 163.92 per USD.

The rupee traded within a very narrow range of 38 paisa per USD showing an intraday high bid of 164.08 and an intraday Low offer of 163.80.

Within the Open Market, PKR was traded at 163.70/164.50 per USD.

According to the data compiled by Mettis Global, the local unit has depreciated by 3.94% and 2.55% in FY22 and CY21, respectively with the month-to-date (MTD) position showing a drop of 0.96%.

Meanwhile, the currency lost 1 rupees to the Pound Sterling as the day's closing quote stood at PKR 227.38 per GBP, while the previous session closed at PKR 226.38 per GBP.

Similarly, PKR's value weakened by 62 paisa against EUR which closed at PKR 192.63 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 6.80/7.00 percent, whereas the 1 week rate was 7.00/7.10 percent.

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