PKR going strong for the eighth session straight

August 07, 2019 (MLN): Pakistani rupee (PKR) has been going strong for the last 8 sessions including today's, where it appreciated by 40 paisa against US Dollar (USD) at the interbank .

In these 8 sessions, PKR has strengthened by Rs.2.2 against dollar as a result of which, Pakistan's external debt in rupee terms has come down by 244 billion.

The currency closed the today's trade at PKR 158.25 per USD, against yesterday's closing of PKR 158.65 per USD. The last time PKR closed a day below this quote was almost a month ago on July 12, when it was quoted at 158.79 per USD. 

The rupee traded within a very narrow range of 35 paisa per USD today, showing an intraday high bid of 158.55 and an intraday Low offer of 158.28.

Within the Open Market, PKR was traded at 157.5/159 per USD.

Meanwhile, the currency gained 1.1 rupees against the Pound Sterling as the day's closing quote stood at PKR 192.16 per GBP, while the previous session closed at PKR 193.29 per GBP.

Similarly, PKR's value strengthened by 64 paisa against EUR which closed at PKR 177.03 at the interbank today.

The overnight repo rate towards close of the session was 13.45/13.55 percent, whereas the 1 week rate was 13.35/13.45 percent.

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