PKR stays firm against USD for two consecutive days

MG News | April 16, 2019 at 04:34 PM GMT+05:00

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April 16, 2019 (MLN): The Pakistani Rupee (PKR) continued to remain stable against the US Dollar (USD) on Tuesday, as its closing value stood at Rs. 141.396 as compared to yesterday’s closing of Rs. 141.3957. The Open Market rate for USD was quoted at 141.25/142.75.

In terms of Pound Sterling, the local currency appreciated by 9.86 paisa, as it closed at Rs. 185.0661 in the interbank market as opposed to last session’s closing of Rs. 185.1647.

Nevertheless, the main highlight for today in the Forex market was Euro, as PKR appreciated by 28.25 paisa against it. The closing value of the local currency against EUR stood at 159.7067, as compared to previous closing of 159.9892.

Within the money market, the SBP conducted a 3 day Open Market Operation to inject Rs. 150 billion into the market. Moreover, the Overnight repo rate decreased to 10.75/10.95 percent from 11.00/11.25 percent on Monday, while the 1 Week rate increased to 10.75/10.90 from 10.70/10.85.

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