PKR stands firm against dollar

MG News | August 06, 2019 at 05:01 PM GMT+05:00

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August 06, 2019 (MLN): Carrying on the past few day's ascending trend, Pakistani rupee (PKR) appreciated by 29 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 158.65 per USD, against yesterday's closing of PKR 158.94 per USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 30 paisa per USD showing an intraday high bid of 158.80 and an intraday Low offer of 158.55.

Within the Open Market, PKR was traded at 157.5/159 per USD.

Alternatively, the currency lost 18 paisa to the Pound Sterling as the day's closing quote stood at PKR 193.29 per GBP, while the previous session closed at PKR 193.11 per GBP.

Similarly, PKR's value weakened by 51 paisa against EUR which closed at PKR 177.67 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.245.5 billion for 3 days at 13.39 percent.

The overnight repo rate towards close of the session was 13.40/13.70 percent, whereas the 1 week rate was 13.35/13.45 percent.

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