PKR depreciates by 2.4 rupees over the week

June 19, 2020 (MLN): Pakistani rupee (PKR) depreciated by 29 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 166.64 per USD, against yesterday's closing of PKR 166.35 per USD.

The rupee witnessed a mild activity in intraday trade as it was traded in a range of 1.15 rupees per USD showing an intraday high bid of 167.15 and an intraday Low offer of 166.45.

During the week, the currency has lost 2.4 rupees against the greenback, as the previous week was concluded at PKR 164.25 per USD.

Within the Open Market, PKR was traded at 166/167 per USD.

Alternatively, the currency gained 100 paisa against the Pound Sterling as the day's closing quote stood at PKR 207.26 per GBP, while the previous session closed at PKR 208.26 per GBP.

Similarly, PKR's value strengthened by 15 paisa against EUR which closed at PKR 186.81 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.1,293.90 billion for 7 days at 8.01 percent.

The overnight repo rate towards close of the session was 8.00/8.15 percent, whereas the 1 week rate was 8.00/8.05 percent.

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