PKR depreciates by 1.2 rupees over the week

MG News | April 03, 2020 at 02:53 PM GMT+05:00

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April 03, 2020 (MLN): Pakistani rupee (PKR) appreciated by 16 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 166.77 per USD, against yesterday's closing of PKR 166.93 per USD.

The rupee traded within a very narrow range of 55 paisa per USD showing an intraday high bid of 167.00 and an intraday Low offer of 166.90.

During the week, the currency has lost 1.2 rupees against the greenback, as the previous week was concluded at PKR 165.54 per USD.

Within the Open Market, PKR was traded at 164/167 per USD.

Meanwhile, the currency gained 1.5 rupees against the Pound Sterling as the day's closing quote stood at PKR 205.79 per GBP, while the previous session closed at PKR 207.24 per GBP.

Similarly, PKR's value strengthened by 2.3 rupees against EUR which closed at PKR 179.99 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.920.75 billion for 7 days at 11.01 percent.

The overnight repo rate towards close of the session was 10.85/11.15 percent, whereas the 1 week rate was 11.00/11.05 percent.

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