July 29, 2021 (MLN): Pakistani rupee (PKR) successfully managed to hold its ground against greenback and closed the trading session at inter-bank market on Thursday at PKR161.89.
The rupee witnessed a mild activity in intraday trade as it was traded in a range of 90 paisa per USD showing an intraday high bid of 161.90 and an intraday Low offer of 161.20.
Within the Open Market, PKR was traded at 161.20/162.00 per USD.
According to data compiled by Mettis Global, the local unit has depreciated by 2.68% or PKR 4.34 in the fiscal year-to-date against USD. Similarly, the rupee has weakened by 1.27or PKR 2.05 in CY21 with the month-to-date (MTD) position showing a decline of 2.68%.
Alternatively, the currency lost 1.3 rupees to the Pound Sterling as the day's closing quote stood at PKR 226 per GBP, while the previous session closed at PKR 224.74 per GBP.
Similarly, PKR's value weakened by 80 paisa against EUR which closed at PKR 192.19 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.400 billion for 8 days at 7.07 percent.
The overnight repo rate towards close of the session was 7.10/7.20 percent, whereas the 1 week rate was 7.05/7.10 percent.
