PKR depreciates by 2.6 rupees in a week

November 20, 2020 (MLN): Pakistani rupee (PKR) depreciated by 11 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 160.73 per USD, against yesterday's closing of PKR 160.62 per USD.

The rupee traded within a very narrow range of 39 paisa per USD showing an intraday high bid of 160.95 and an intraday Low offer of 16.65.

During the week, the currency has lost 2.6 rupees against the greenback, as the previous week was concluded at PKR 158.16 per USD.

Within the Open Market, PKR was traded at 160.5/161.5 per USD.

Meanwhile, the currency lost 1.1 rupees to the Pound Sterling as the day's closing quote stood at PKR 213.21 per GBP, while the previous session closed at PKR 212.15 per GBP.

Similarly, PKR's value weakened by 68 paisa against EUR which closed at PKR 190.79 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.690 billion for 7 days at 7.03 percent.

The overnight repo rate towards close of the session was 7.00/7.10 percent, whereas the 1 week rate was 7.02/7.05 percent.

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Posted on: 2020-11-20T15:56:00+05:00