PKR depreciates by 20 paisa over the week

MG News | September 11, 2020 at 04:00 PM GMT+05:00

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September 11, 2020 (MLN): Pakistani rupee (PKR) appreciated by 43 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 165.97 per USD, against yesterday's closing of PKR 166.4 per USD.

The rupee traded within a range of 50 paisa per USD showing an intraday high bid of 166.32 and an intraday Low offer of 165.90.

During the week, the currency has lost 20 paisa against the greenback, as the previous week was concluded at PKR 165.77 per USD.

Within the Open Market, PKR was traded at 165.50/166.50 per USD.

Meanwhile, the currency gained 3.4 rupees against the Pound Sterling as the day's closing quote stood at PKR 213.01 per GBP, while the previous session closed at PKR 216.45 per GBP.

Similarly, PKR's value strengthened by 41 paisa against EUR which closed at PKR 196.44 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.1,000 billion for 7 days at 7.02 percent.

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

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