PKR depreciates by 4.7 rupees over the week

March 13, 2020 (MLN): Pakistani rupee (PKR) appreciated by 16 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 158.98 per USD, against yesterday's closing of PKR 159.13 per USD.

The rupee witnessed a mild activity in intraday trade as it was traded in a range of 1.10 rupees per USD showing an intraday high bid of 159.10 and an intraday Low offer of 158.30.

During the week, the currency has lost 4.7 rupees against the greenback, as the previous week was concluded at PKR 154.24 per USD.

Within the Open Market, PKR was traded at 157.50/159 per USD.

Meanwhile, the currency gained 2.9 rupees against the Pound Sterling as the day's closing quote stood at PKR 200.33 per GBP, while the previous session closed at PKR 203.25 per GBP.

Similarly, PKR's value strengthened by 1.3 rupees against EUR which closed at PKR 177.91 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.1.04 trillion for 7 days at 13.26 percent.

The overnight repo rate towards close of the session was 12.90/13.00 percent, whereas the 1 week rate was 13.05/13.25 percent.

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