PKR closes within 8 paisa of its all-time low

MG News | August 05, 2020 at 03:58 PM GMT+05:00

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August 05, 2020 (MLN): The US Dollar closed near a record high at 168.23 against Pakistani rupee in the interbank market. It came within 8 paisa of its highest close, made on July 20, 2020.

Rupee (PKR) lost its ground against the US dollar as it depreciated by 59 paisa against US Dollar in today’s session as the currency closed the day’s trade at 168.23 per USD, against yesterday's closing of PKR 167.64 per USD.

In FY21, so far, PKR has depreciated by 0.11% or 18 paisa.

The rupee traded within a very narrow range of 65 paisa per USD showing an intraday high bid of 168.30 and an intraday Low offer of 167.75.

Within the Open Market, PKR was traded at 167.75/169.00 per USD.

Meanwhile, the currency lost 1.1 rupees to the Pound Sterling as the day's closing quote stood at PKR 219.85 per GBP, while the previous session closed at PKR 218.75 per GBP.

Similarly, PKR's value weakened by 1.2 rupees against EUR which closed at PKR 198.65 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 6.80/7.00 percent, whereas the 1 week rate was 6.95/7.05 percent.

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