PKR loses another 1.8 rupees to greenback

May 20, 2019 (MLN): Pakistani rupee (PKR) depreciated by 1.8 rupees against US Dollar (USD) at today's interbank session as the currency closed the day's trade at PKR 149.65 per USD, against previous session's closing of PKR 147.88 per USD.

Towards the end of today's session, tom settlement was traded at PKR 152 per USD and closed at PKR 150/150.5 against greenback.

Meanwhile, the currency lost 1.6 rupees against Pound Sterling as the day's closing quote stood at PKR 190.71 per GBP, while the previous session closed at PKR 189.08 per GBP.

Similarly, PKR's value weakened by 1.6 rupees against EUR which closed at PKR 166.92 at the interbank today.

Within the Open Market, PKR was traded at 149.50/151 per USD.

Today's depreciation has further weighed down Pakistan's external debt burden by Rs.187.57 billion which in dollar terms account for a $105.84 billion. Pakistan now owes external avenues a total of Rs.15.84 trillion.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it mopped up Rs.26.5 billion for 3 days at 10.69 percent.

Meanwhile, the overnight repo rate towards close of the session was 10/10.5 percent.

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