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Mettis Global News

MPS Preview: High for Longer

Update: PKR gains further 1.63 rupees in interbank market

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April 12, 2022 (MLN): Pakistani Rupee (PKR) has further strengthened by 1.63 rupees against the greenback during intraday trade owing to the political stability. 

The dollar was being quoted at PKR182.12/182.32 [PST: 11:52] when compared to the previous day’s close of 182.93.

Earlier today, the domestic unit gained 93 paisa against the US dollar while holding its gaining momentum. 

The domestic currency continues its upward journey taking big leaps forward. Right now, it has nothing to do with the economy or politics, Asad Rizvi, the former Treasury Head at Chase Manhattan Bank said. 

It’s the result of the new government's statement and its past policy of maintaining a strong PKR. Time will tell if the ongoing trend is sustainable or not, he added.  

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Posted on: 2022-04-12T11:50:43+05:00

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