March 26, 2019 (MLN): Pakistani Rupee (PKR) appreciated in the second session today, after closing the first session at PKR 140.27 per US Dollar (USD), relatively unchanged from yesterday’s close of 140.29.

In the second session of interbank trading, the local currency appreciated by 27 paisa and was quoted at 140.0/140.15 before closing around 140.15/18.

According to a foreign exchange dealer with knowledge of the scenario, this appreciation is only temporary and is in response to the recent inflow of greenback from China. “More inflows are expected in the coming days” the dealer added.

While the spot rates remained relatively unchanged in the morning session, swap points for 2 months to 1 year declined by 10 to 20 paisa.

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