PKR loses 1.33 rupee at the end of a volatile session

June 13, 2019 (MLN): Pakistani rupee (PKR) depreciated by 1.3 rupees against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 152.9 per USD, against previous session's closing of PKR 151.57 per USD.

The Rupee endured a volatile trading session, with the value of the currency trading in a range of 2.00 Rupee per USD showing an intraday high bid of 153.5 and an intraday Low offer of 151.85.

The local currency continued to weaken in the second session with the Dollar being quoted as high as 153.50/153.70.

Alternatively, the currency gained 2.5 rupees against the Pound Sterling as the day's closing quote stood at PKR 193.74 per GBP, while the previous session closed at PKR 193.07 per GBP.

On the other hand, PKR's value weakened by 99 paisa against EUR which closed at PKR 172.68 at the interbank today.

Within the Open Market, PKR was traded at 152/154.5 per USD.

Today's depreciation further weighs down Pakistan's external debt burden by Rs.141.24 billion which in dollar terms accounts for a $105.84 billion. Pakistan now owes external avenues a total of Rs.16.18 trillion.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.20 billion for 1 day at 12.4 percent.

The overnight repo rate towards close of the session was 12.50/12.75 percent, whereas the 1 week rate was 12.35/12.40 percent.

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