After a stable yesterday, PKR ended the trade at 162.43 per USD, a record highest since October 16, 2020.
Pakistani rupee (PKR) ended the trade at PKR 162.43 against USD, 54 paisa lower than last session’s PKR 161.89 against USD.
Chase Manhattan Bank County former treasurer, Mr Asad Rzivi, told the media that the depreciation in home currency has occurred due to the escalated imported bill and a decline in foreign exchange reserves.
During the week, PKR lost 11 paisa against the greenback; the previous week was concluded at PKR 162.32 against USD.
In the Open Market, PKR was traded at 162/163 per USD rate.
In the month-to-date (MTD) of CY21, the rupee is showing a 3 per cent decline, overall weakening by PKR 1.6 or 2.6. Additionally, the local unit has depreciated by PKR 4.9 in fiscal year-to-date against USD.
Against the Pound Sterling (GBP), PKR lost 1 rupee, closing at PKR 227.01 GBP, while the previous session closed at PKR 226 per GBP.
Similarly, the value of PKR weakened against EUR by 1.1 rupees, closing at PKR 193.29 against EUR at the interbank today.
Towards the close of the session, the overnight repo rate was 7.15/7.30 per cent, whereas the one week rate was 7.07/7.10.