Pakistani Rupee holds its ground

June 25, 2020 (MLN): Pakistani rupee (PKR) closed today's trading session relatively unchanged against the USD with the rate remaing stable at PKR 167.36

The Rupee saw moderate volatility in today’s session and traded in a range of 90 paisa per USD showing an intraday high bid of 167.46 and an intraday Low offer of 166.90.

Within the Open Market, PKR was traded at 166.75/168 per USD.

Alternatively, the currency gained 73 paisa against the Pound Sterling as the day's closing quote stood at PKR 208.24 per GBP, while the previous session closed at PKR 208.97 per GBP.

Similarly, PKR's value strengthened by 98 paisa against EUR which closed at PKR 188.1 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 mopped up Rs.250 billion for 1 day at 7.95 percent.

The overnight repo rate towards close of the session was 7.25/7.50 percent, whereas the 1 week rate was 7.75/7.90 percent.

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