PKR strengthens by 1.3 rupees in a week

November 27, 2020 (MLN): Pakistani rupee (PKR) depreciated by 20 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 159.46 per USD, against yesterday's closing of PKR 159.27 per USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 34 paisa per USD showing an intraday high bid of 159.60 and an intraday Low offer of 159.30.

During the week, the currency has gained 1.3 rupees against the greenback, as the previous week was concluded at PKR 160.73 per USD.

Within the Open Market, PKR was traded at 159.50/160.50 per USD.

Meanwhile, the currency lost 41 paisa to the Pound Sterling as the day's closing quote stood at PKR 213.22 per GBP, while the previous session closed at PKR 212.81 per GBP.

Similarly, PKR's value weakened by 31 paisa against EUR which closed at PKR 190.2 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.758.5 billion for 7 days at 7.03 percent.

The overnight repo rate towards close of the session was 7.10/7.20 percent, whereas the 1 week rate was 7.00/7.10 percent.

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