Pakistani rupee (PKR) on Wednesday broke its six-session long losing streak and appreciated by 42 paisa to close at 163.47 against the greenback in the interbank market, taking cues from the positive developments.
Yesterday, the home unit had closed the session at PKR 163.89 per USD.
The rupee saw a volatility free session as the very little movement was recorded trading in a range of 55 paisa per USD showing an intraday high bid of 164.05 and an intraday Low offer of 163.55.
Within the Open Market, PKR was traded at 163.20/164 per USD.
According to data compiled by Mettis Global, the home unit has depreciated by 3.63 per cent and 2.23 per cent in FY22 and CY21, respectively with the month-to-date (MTD) position showing a drop of 0.64 per cent.
Meanwhile, the currency gained 26 paise against the Pound Sterling as the day’s closing quote stood at PKR 227.72 per GBP, while the previous session closed at PKR 227.98 per GBP.
On the other hand, PKR’s value weakened by 16 paisa against EUR which closed at PKR 194.73 at the interbank today.
On another note, within the money market, the overnight repo rate towards the close of the session was 7.20/7.30 percent, whereas the 1-week rate was 7.10/7.15 percent.