PKR appreciates by 1.1 rupees over the week

MG News | October 23, 2020 at 05:15 PM GMT+05:00

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October 23, 2020 (MLN): Pakistani rupee (PKR) appreciated by 45 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 161.37 per USD, against yesterday's closing of PKR 161.82 per USD.

PKR opened stronger at 161.55 and traded within a very narrow range of 25 paisa per USD showing an intraday high bid of 161.60 and an intraday Low offer of 161.40.

During the week, the currency has gained 1.1 rupees against the greenback, as the previous week was concluded at PKR 162.49 per USD.

Within the Open Market, PKR was traded at 161.20/162.20 per USD.

Meanwhile, the currency gained 1.3 rupees against the Pound Sterling as the day's closing quote stood at PKR 211.22 per GBP, while the previous session closed at PKR 212.53 per GBP.

Similarly, PKR's value strengthened by 76 paisa against EUR which closed at PKR 191.05 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.819.95 billion for 10 days at 7.03 percent.

The overnight repo rate towards the close of the session was 7.00/7.20 percent, whereas the 1-week rate was 7.00/7.05 percent.

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