PKR appreciates by 1.7 rupees over the week

MG News | September 04, 2020 at 03:05 PM GMT+05:00

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September 04, 2020 (MLN): Pakistani rupee (PKR) appreciated by 27 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 165.77 per USD, against yesterday's closing of PKR 166.04 per USD.

The rupee traded within a very narrow range of 25 paisa per USD showing an intraday high bid of 165.95 and an intraday Low offer of 165.75.

During the week, the currency has gained 1.7 rupees against the greenback, as the previous week was concluded at PKR 167.43 per USD.

Within the Open Market, PKR was traded at 165.30/166.50 per USD.

Meanwhile, the currency gained 47 paisa against the Pound Sterling as the day's closing quote stood at PKR 220.4 per GBP, while the previous session closed at PKR 220.87 per GBP.

However, PKR's value remained relatively unchanged against the EUR which closed at PKR 196.31 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.1.097 trillion 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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