PKR appreciates by 1.3 rupees over the week

MG News | October 16, 2020 at 04:47 PM GMT+05:00

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October 16, 2020 (MLN): Pakistani rupee (PKR) appreciated by 37 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 162.49 per USD, against yesterday's closing of PKR 162.86 per USD.

The rupee traded within a very narrow range of 34 paisa per USD showing an intraday high bid of 162.75 and an intraday Low offer of 162.50.

During the week, the currency has gained 1.3 rupees against the greenback, as the previous week was concluded at PKR 163.84 per USD.

Within the Open Market, PKR was traded at 162.50/163.50 per USD.

Meanwhile, the currency gained 1.2 rupees against the Pound Sterling as the day's closing quote stood at PKR 210.24 per GBP, while the previous session closed at PKR 211.42 per GBP.

Similarly, PKR's value strengthened by 66 paisa against EUR which closed at PKR 190.25 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.814.9 billion for 7 days at 7.02 percent.

The overnight repo rate towards close of the session was 7.00/7.10 percent, whereas the 1 week rate was 7.00/7.05 percent.

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