PKR appreciates by 36 paisa at interbank trade

August 30, 2019 (MLN): Pakistani rupee (PKR) appreciated by 36 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 156.86 per USD, against yesterday's closing of PKR 157.22 per USD.

This is the lowest close since July 4th,2019. On the contrary, dollar was at an all-time high on June 26, 2019 when it closed at 164.0557.

The rupee saw a volatility free session as very little movement was recorded trading in a range of 50 paisa per USD showing an intraday high bid of 157.20 and an intraday Low offer of 156.80.

During the week, the currency has gained 66 paisa against the greenback, as the previous week was concluded at PKR 157.52 per USD.

Within the Open Market, PKR was traded at 156.50/157.80 per USD.

Meanwhile, the currency gained 49 paisa against the Pound Sterling as the day's closing quote stood at PKR 191.08 per GBP, while the previous session closed at PKR 191.57 per GBP.

Similarly, PKR's value strengthened by 92 paisa against EUR which closed at PKR 173.16 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.1.23 trillion for 7 days at 13.32 percent.

The overnight repo rate towards close of the session was 13.20/13.40 percent, whereas the 1 week rate was 13.35/13.40 percent.

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