PKR depreciates by 1 rupee over the week

MG News | June 26, 2020 at 03:25 PM GMT+05:00

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June 26, 2020 (MLN): Pakistani rupee (PKR) depreciated by 30 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 167.67 per USD, against yesterday's closing of PKR 167.36 per USD.

The rupee traded within a very narrow range of 55 paisa per USD showing an intraday high bid of 167.90 and an intraday Low offer of 167.50.

During the week, the currency has lost 1 rupee against the greenback, as the previous week was concluded at PKR 166.64 per USD.

Within the Open Market, PKR was traded at 166.75/168.00 per USD.

Alternatively, the currency gained 20 paisa against the Pound Sterling as the day's closing quote stood at PKR 208.04 per GBP, while the previous session closed at PKR 208.24 per GBP.

Similarly, PKR's value strengthened by 6 paisa against EUR which closed at PKR 188.04 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.925 billion for 7 days at 7.03 percent.

The overnight repo rate towards close of the session was 6.95/7.05 percent, whereas the 1-week rate was 7.00/7.05 percent.

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