PKR weakens yet again in early trade

MG News | May 28, 2019 at 10:32 AM GMT+05:00

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May 28, 2019 (MLN):Pakistani Rupee (PKR) has weakened again in early trade against the Dollar (USD), even though it opened stronger at 149.50/150 per USD.

Soon after interbank trading began, the local currency quickly fell to 150.25/150.75 before falling further and is currently being quoted at 150.75/151.15 per USD with trades reported at 150.90.

This marks a depreciation of 1 rupee against yesterday’s closing value of PKR 149.75 per USD.

According to traders, there are payments due today which has entailed a rise in demand for greenback, thus pushing up their value against PKR.

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