PKR depreciates by 98 paisa over the week

July 17, 2020 (MLN): Pakistani rupee (PKR) depreciated by 34 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 167.33 per USD, against yesterday's closing of PKR 166.99 per USD.

The rupee traded within a very narrow range of 34 paisa per USD showing an intraday high bid of 167.50 and an intraday Low offer of 167.30.

During the week, the currency has lost 98 paisa against the greenback, as the previous week was concluded at PKR 166.35 per USD.

Within the Open Market, PKR was traded at 167/168 per USD.

Meanwhile, the currency lost 52 paisa to the Pound Sterling as the day's closing quote stood at PKR 209.89 per GBP, while the previous session closed at PKR 209.37 per GBP.

Similarly, PKR's value weakened by 19 paisa against EUR which closed at PKR 190.55 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.900 billion for 7 days at 7.01 percent.

The overnight repo rate towards close of the session was 7.00/7.05 percent, whereas the 1 week rate was 7.05/7.15 percent.

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