PKR strengthens by 14 paisa in a week

September 18, 2020 (MLN): Pakistani rupee (PKR) appreciated by 38 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 165.83 per USD, against yesterday's closing of PKR 166.21 per USD.

The rupee traded within a very narrow range of 21 paisa per USD showing an intraday high bid of 165.91 and an intraday Low offer of 165.75.

During the week, the currency has gained 14 paisa against the greenback, as the previous week was concluded at PKR 165.97 per USD.

Within the Open Market, PKR was traded at 165.50/166.50 per USD.

Meanwhile, the currency gained 10 paisa against the Pound Sterling as the day's closing quote stood at PKR 215.25 per GBP, while the previous session closed at PKR 215.35 per GBP.

On the other hand, PKR's value weakened by 42 paisa against EUR which closed at PKR 196.63 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.950 billion for 7 days at 7.02 percent.

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

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