On Tuesday, PKR appreciates by 14 paisa against USD, closed the day’s trade at PKR 163.76 per USD, against yesterday’s closing of PKR 163.9 per USD.
Asad Rizvi, the former treasury head at Chase Manhattan Bank, said USD is always in demand on Monday due to the weekend, as supply gets short. However, today PKR has opened on a positive note but strong opening of PKR does not necessarily mean that the local unit could make substantial gains
“That will largely depend on supply and demand factor. Nevertheless, the gradual return of stable market condition in coming days will not be a surprise, he further shared
Similarly, PKR’s value strengthened by 57 paisa against EUR which closed at PKR 192.15 at the interbank today.