The Pakistani rupee (PKR) gained 95 paisa against the US dollar (USD) in today’s interbank session, as the local currency closed at 153.09 Pakistani rupees per US dollar, up from yesterday’s close at 154.04 Pakistani rupees. per US dollar.
The rupee traded in a very narrow range of 69 paisa to the US dollar, indicating a high of 153.75 and low at 153.10 during the day trade.
On the open market, PKR was trading at 153/154 to the US dollar.
Pakistani Rupee was has been appreciating amid rising foreign exchange reserves and improving economic sentiment. Some of the emerging market currencies are going through tough times, the Pakistani rupee has emerged as an unexpected winner in 2021.
As per the data from Reuters, so far Rupee has gained 9.77% or Rs 14.96 in the period July-2020 to March-2021.
Meanwhile, the currency rose 1.9 rupees against the British pound, as the day closed at 210.85 Pakistani rupees per pound, while the previous session closed at 212.79 Pakistani rupees.
Also, the PKR rose 1.4 rupees against the euro, which closed today at the interbank level of 179.84 Pakistani rupees.
On the other hand, in the money market, the overnight repayment rate closer to the close of the session was 7.60 / 7.75% and the one-week rate was 7.10 / 7.15%.
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