Pakistani Rupee holds its ground

June 11, 2020 (MLN): Pakistani rupee (PKR) closed today's trading session relatively unchanged against the USD with the rate remaing stable at PKR 164.59.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 40 paisa per USD showing an intraday high bid of 164.80 and an intraday Low offer of 164.50.

Within the Open Market, PKR was traded at 163.80/165.50 per USD.

Alternatively, the currency gained 1.5 rupees against the Pound Sterling as the day's closing quote stood at PKR 208.75 per GBP, while the previous session closed at PKR 210.22 per GBP.

On the other hand, PKR's value weakened by 3 paisa against EUR which closed at PKR 187.17 at the interbank today.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs 200 billion for 1 day at 8.05 percent.

The overnight repo rate towards close of the session was 8.05/8.25 percent, whereas the 1 week rate was 8.02/8.05 percent.

Copyright Mettis Link News