PKR strengthens by 21 paisa in a week

MG News | May 08, 2020 at 03:03 PM GMT+05:00

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May 08, 2020 (MLN): Pakistani rupee (PKR) appreciated by 26 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 159.97 per USD, against yesterday's closing of PKR 160.23 per USD.

The rupee traded within a very narrow range of 50 paisa per USD showing an intraday high bid of 160.25 and an intraday Low offer of 159.85.

During the week, the currency has gained 21 paisa against the greenback, as the previous week was concluded at PKR 160.18 per USD.

Within the Open Market, PKR was traded at 159/160.5 per USD.

Meanwhile, the currency gained 5 paisa against the Pound Sterling as the day's closing quote stood at PKR 198.13 per GBP, while the previous session closed at PKR 198.18 per GBP.

On the other hand, PKR's value weakened by 7 paisa against EUR which closed at PKR 173.16 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.1.32 trillion for 7 days at 9.02 percent.

The overnight repo rate towards close of the session was 8.95/9.05 percent, whereas the 1 week rate was 9.00/9.05 percent.

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