PKR depreciates by 40 paisa over the week

July 26, 2019 (MLN): Pakistani rupee (PKR) quickly got over yesterday’s fleeting relapse as it depreciated by 14 paisa against US Dollar (USD) in today's interbank session.

The currency closed this week at PKR 160.59 per USD against yesterday's closing of PKR 160.45 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 160.60 and an intraday Low offer of 160.50.

During the week, the currency has lost 40 paisa against the greenback, as the previous week was concluded at PKR 160.19 per USD.

Within the Open Market, PKR was traded at 159.50/161.00 per USD.

Alternatively, the currency gained 34 paisa against the Pound Sterling as the day's closing quote stood at PKR 199.76 per GBP, while the previous session closed at PKR 200.1 per GBP.

On the other hand, PKR's value weakened by 32 paisa against EUR which closed at PKR 178.88 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.1.84 trillion for 7 days at 13.34 percent.

The overnight repo rate towards close of the session was 12.90/13.10 percent, whereas the 1 week rate was 13.15/13.30 percent.

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