PKR strengthens by 4 paisa in a week

September 25, 2020 (MLN): Pakistani rupee (PKR) appreciated by 17 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 165.79 per USD, against yesterday's closing of PKR 165.96 per USD.

The rupee traded within a very narrow range of 9 paisa per USD showing an intraday high bid of 165.75 and an intraday Low offer of 165.70.

During the week, the currency has gained 4 paisa against the greenback, as the previous week was concluded at PKR 165.83 per USD.

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

Alternatively, the currency lost 50 paisa to the Pound Sterling as the day's closing quote stood at PKR 211.69 per GBP, while the previous session closed at PKR 211.19 per GBP.

On the other hand, PKR's value strengthened by 29 paisa against EUR which closed at PKR 193.22 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.823.8 billion for 7 days at 7.03 percent.

The overnight repo rate towards close of the session was 7.10/7.25 percent, whereas the 1 week rate was 7.00/7.05 percent.

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