Pakistani Rupee holds its ground over the week

MG News | January 24, 2020 at 04:14 PM GMT+05:00

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January 24, 2020 (MLN): Pakistani rupee (PKR) appreciated by 5 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 154.57 per USD, against yesterday's closing of PKR 154.61 per USD.

The rupee traded within a very narrow range of 21 paisa per USD showing an intraday high bid of 154.71 and an intraday Low offer of 154.55.

During the week, the currency has gained 0 paisa against the greenback, as the previous week was concluded at PKR 154.57 per USD.

Within the Open Market, PKR was traded at 154.50/155.20 per USD.

Alternatively, the currency lost 24 paisa to the Pound Sterling as the day's closing quote stood at PKR 203.2 per GBP, while the previous session closed at PKR 202.96 per GBP.

On the other hand, PKR's value strengthened by 58 paisa against EUR which closed at PKR 170.78 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.731.5 billion for 7 days at 13.26 percent.

The overnight repo rate towards close of the session was 13.25/13.35 percent, whereas the 1 week rate was 13.25/13.30 percent.

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