Pakistan Rupee has been under immense pressure for the last few months and the global pandemic was the precursor of sliced economic activities, government rebates on taxes, and also imports and export imbalance.
However, today during the trading session the Pakistani Rupee (PKR) remained stable against the USD, the Rupee valued at PKR 168.37 according to the report by MettisGlobal. The analysts are expecting the Rupee to remain stable for some time and then it might start gaining against the USD in the coming days.
According to the details rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 3 paisa per USD showing an intraday high bid of 168.39 and an intraday Low offer of 168.38. As far as the open market is concerned, PKR was traded at 168.20/169.00 per USD.
Moreover, the Pakistani currency gained 3 paisa against the Pound Sterling as the day’s closing quote stood at PKR 220.28 per GBP, while the previous session closed at PKR 220.31 per GBP.
On the other hand, PKR’s value weakened by 5 paisa against EUR which closed at PKR 198.97 at the interbank today. On another note, within the money market, the overnight repo rate towards the close of the session was 7.10/7.20 percent, whereas the 1-week rate was 7.05/7.10 percent.