PKR strengthens by 1.3 rupees in a week

By MG News | October 02, 2020 at 04:54 PM GMT+05:00

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October 02, 2020 (MLN): Pakistani rupee (PKR) appreciated by 50 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 164.51 per USD, against yesterday's closing of PKR 165.01 per USD.

The rupee traded within a very narrow range of 63 paisa per USD showing an intraday high bid of 165.08 and an intraday Low offer of 164.50.

During the week, the currency has gained 1.3 rupees against the greenback, as the previous week was concluded at PKR 165.79 per USD.

Alternatively, the currency lost 1 rupee to the Pound Sterling as the day's closing quote stood at PKR 212.96 per GBP, while the previous session closed at PKR 211.91 per GBP.

On the other hand, PKR's value strengthened by 80 paisa against EUR which closed at PKR 192.75 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.800 billion for 7 days at 7.02 percent.

The overnight repo rate towards the close of the session was 7.00/7.10 percent, whereas the 1-week rate was 7.05/7.10 percent.

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