PKR depreciates by 27 paisa at interbank trade

MG News | May 18, 2020 at 04:18 PM GMT+05:00

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May 18, 2020 (MLN): Pakistani rupee (PKR) depreciated by 27 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 160.37 per USD, against last session's closing of PKR 160.1 per USD.

The rupee traded within a very narrow range of 70 paisa per USD showing an intraday high bid of 160.90 and an intraday Low offer of 160.40.

Within the Open Market, PKR was traded at 159.5/161 per USD.

Alternatively, the currency gained 1.5 rupees against the Pound Sterling as the day's closing quote stood at PKR 194.05 per GBP, while the previous session closed at PKR 195.54 per GBP.

On the other hand, PKR's value weakened by 15 paisa against EUR which closed at PKR 173.29 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.63 billion for 11 days at 8.03 percent.

The overnight repo rate towards close of the session was 8.00/8.10 percent, whereas the 1 week rate was 8.00/8.10 percent.

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