As the week has started, Pakistan Rupee has been seeing a wave like behavior in the interbank market.
The currency closed trade yesterday at Rs. 160.71 against one dollar in the interbank market hence Pakistani rupee has lost 62 paisas against US dollar in this way. In comparison to Friday, the currency closed the trade at Rs 160.08.
The rupee was being traded within a range of 47 paisas per USD. The showed an intraday high bid of 160.71 and at the same time an intraday low offer of 160.27.
Though, the local currency has gotten up by Rs. 3.5 against the Pound Sterling as the day’s closing quote landed at Rs. 213.29 .Whereas during the trading session before this got closed at Rs. 216.80.
According to the CEO of Apha Beta Core, “PKR/USD is expected to move gradually based on inflation and interest rates. Interest rates may be raised by the 2nd half of 2021 if the inflation goes up. Better exports and investments are expected next year which would keep the parity in check within a range.”
