PKR appreciates by 3.2 rupees over the week

By MG News | April 17, 2020 at 02:57 PM GMT+05:00

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April 17, 2020 (MLN): Pakistani rupee (PKR) appreciated by 3.3 rupees against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 163.58 per USD, against yesterday's closing of PKR 166.88 per USD.

The rupee endured a highly volatile trading session with quotes being recorded in a range of 4.25 rupees per USD showing an intraday high bid of 167.25 and an intraday Low offer of 164.00.

During the week, the currency has gained 3.2 rupees against the greenback, as the previous week was concluded at PKR 166.79 per USD.

Meanwhile, the currency gained 4.5 rupees against the Pound Sterling as the day's closing quote stood at PKR 203.67 per GBP, while the previous session closed at PKR 208.19 per GBP.

Similarly, PKR's value strengthened by 4.3 rupees against EUR which closed at PKR 177.21 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.1.39 trillion for 11 days at 9.01 percent.

The overnight repo rate towards close of the session was 8.80/9.00 percent, whereas the 1 week rate was 9.00/9.05 percent.

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