PKR homing in on all-time low

August 20, 2020 (MLN): Pakistani rupee (PKR) on Thursday closed the trading session near an all-time low of 168.38 against USD in the interbank market. This recorded close was also witnessed on August 10, 2020.

Pakistani rupee (PKR) depreciated by 11 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 168.38 per USD, against yesterday's closing of PKR 168.27 per USD.

The rupee traded within a very narrow range of 19 paisa per USD showing an intraday high bid of 168.45 and an intraday Low offer of 168.30.

Within the Open Market, PKR was traded at 168/169 per USD.

Alternatively, the currency gained 3 rupees against the Pound Sterling as the day's closing quote stood at PKR 220.1 per GBP, while the previous session closed at PKR 223.12 per GBP.

Similarly, PKR's value strengthened by 2 rupees against EUR which closed at PKR 198.96 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 mopped up Rs.27.5 billion for 1 day at 6.89 percent.

The overnight repo rate towards close of the session was 6.90/7.00 percent, whereas the 1 week rate was 6.95/7.05 percent.

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