PKR appreciates by 38 paisa at interbank trade

MG News | April 23, 2020 at 03:48 PM GMT+05:00

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April 23, 2020 (MLN): Pakistani rupee (PKR) appreciated by 38 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 159.98 per USD, against yesterday's closing of PKR 160.36 per USD.

The rupee traded within a very narrow range of 59 paisa per USD showing an intraday high bid of 160.10 and an intraday Low offer of 159.70.

Within the Open Market, PKR was traded at 158.50/160 per USD.

Meanwhile, the currency gained 27 paisa against the Pound Sterling as the day's closing quote stood at PKR 197.67 per GBP, while the previous session closed at PKR 197.93 per GBP.

Similarly, PKR's value strengthened by 1.5 rupees against EUR which closed at PKR 172.69 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 mopped up Rs.204 billion for 5 days at 8.9 percent.

The overnight repo rate towards close of the session was 8.50/8.70 percent, whereas the 1 week rate was 8.50/8.70 percent.

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