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KARACHI: PKR experienced a net fall over the week against USD in both interbank and open markets falling by a higher margin in interbank market than in open market. Over the course of five days of trading, PKR experienced both ups and downs but overall lost value. In global currency markets; USD also showed mixed movement throughout the week but on last day of the week, it was headed for its best weekly gain on account of its safe haven attribute in wake of rising global COVID infection rates. PKR however, remained unchanged over the week against Euro while going down against AED and SR in Pakistan open market.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee overall lost 80 paisas for both buying and selling against USD over the week closing at 159.90 and 160 respectively.

OPEN MARKET RATES: In the open market, PKR overall lost 20 paisas for both buying and selling over the week closing at 159.80 and 160.30 respectively.

Against Euro, PKR remained unchanged for both buying and selling over the week closing at 186 and 187.50 respectively.

Against UAE Dirham, PKR experienced net loss of 10 paisas for buying and 15 paisas for selling closing at 43.10 and 43.30 respectively.

Against Saudi Riyal, PKR overall lost 10 paisas for buying and 15 paisas for selling as well closing at 42.10 and 42.30 respectively.

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THE RUPEE
========================================
Weekly Interbank market rates for dollar
----------------------------------------
BID CLOSE                     Rs. 159.90
OFFER CLOSE                   Rs. 160.00
BID OPEN                      Rs. 159.10
OFFER OPEN                    Rs. 159.20
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Weekly Open market rates for dollar
----------------------------------------
BID CLOSE                     Rs. 159.80
OFFER CLOSE                   Rs. 160.30
BID OPEN                      Rs. 159.60
OFFER OPEN                    Rs. 160.10
========================================

Copyright Business Recorder, 2021

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