PKR appreciates by 42 paisa at interbank trade

MG News | February 08, 2021 at 03:40 PM GMT+05:00

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February 08, 2021 (MLN): Pakistani rupee (PKR) appreciated by 42 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 159.56 per USD, against last session's closing of PKR 159.99 per USD.

The rupee entraded in a range of 37 paisa per USD showing an intraday high bid of 159.93 and an intraday Low offer of 159.60.

Within the Open Market, PKR was quoted at 159.80/160.50 per USD.

According to analysts the rupee has been appreciating on the back of higher inflows in recent days.

Alternatively, the currency lost 1.3 rupees to the Pound Sterling as the day's closing quote stood at PKR 218.72 per GBP, while the previous session closed at PKR 217.37 per GBP.

On the other hand, PKR's value strengthened by 7 paisa against EUR which closed at PKR 191.88 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.1.07 trillion for 4 days at 7.04 percent.

The overnight repo rate towards close of the session was 7.00/7.10 percent, whereas the 1 week rate was 7.05/7.15 percent.

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