Pakistani Rupee holds its ground

July 25, 2019 (MLN): Pakistani rupee (PKR) recovered 33 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 160.45 per USD, against yesterday's closing of PKR 160.78 per USD.

The rupee saw a volatility free session as very little movement was recorded trading in a range of 19 paisa per USD showing an intraday high bid of 160.70 and an intraday Low offer of 160.55.

This is the first time in the last sessions where PKR has appreciated against USD. During this period, the currency had cumulatively lost nearly 1 rupee before today's session.

Within the Open Market, PKR was traded at 159.80/161.50 per USD.

Meanwhile, the currency gained 54 paisa against the Pound Sterling as the day's closing quote stood at PKR 200.1 per GBP, while the previous session closed at PKR 200.64 per GBP.

Similarly, PKR's value strengthened by 54 paisa against EUR which closed at PKR 178.56 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 13.30/13.40 percent, whereas the 1 week rate was 13.40/13.45 percent.

Copyright Mettis Link News