PKR slides down, closes at Rs276.28 against greenback

February 07, 2023 (MLN): Pakistani rupee (PKR) has depreciated by 98 paisa against US Dollar in today's interbank session as the currency settled the day's trade at PKR 276.28 per USD, as compared to previous closing of 275.30 per USD.

During the session, the rupee traded in a band of Rs1.69 per USD showing an intraday high bid of 276.09 and low offer of 275.65 while in the open market, PKR was traded at 277/279.80 per USD.

Meanwhile, the currency lost 7 paisa to the Pound Sterling as the day's closing quote stood at PKR 332.13 per GBP, while the previous session closed at PKR 332.06 per GBP.

On the other hand, PKR's value strengthened by 54 paisa against EUR which closed at PKR 296.42 at the interbank today.

Today, the SBP conducted an Open Market Operation (OMO), and Shariah-compliant Mudarabah OMO today, in which it cumulatively injected a total of Rs40.95 billion into the market.

On another note, within the money market, the overnight repo rate towards close of the session was 16.40%/16.60%, whereas the 1-week rate was 16.85% /16.95%.

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