PKR depreciates by 34 paisa over the week

January 08, 2021 (MLN): Pakistani rupee (PKR) depreciated by 16 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 160.17 per USD, against yesterday's closing of PKR 160.02 per USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 29 paisa per USD showing an intraday high bid of 160.10 and an intraday Low offer of 159.90.

During the week, the currency has lost 34 paisa against the greenback, as the previous week was concluded at PKR 159.83 per USD.

Within the Open Market, PKR was traded at 160/160.70 per USD.

Alternatively, the currency gained 16 paisa against the Pound Sterling as the day's closing quote stood at PKR 217.5 per GBP, while the previous session closed at PKR 217.65 per GBP.

Similarly, PKR's value strengthened by 1 rupees against EUR which closed at PKR 195.87 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.912.62 billion for 7 days at 7.04 percent.

The overnight repo rate towards close of the session was 7.35/7.50 percent, whereas the 1 week rate was 7.05/7.15 percent.

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