PKR strengthens by 5 paisa in a week

December 18, 2020 (MLN): Pakistani rupee (PKR) closed today's trading session relatively unchanged against the USD with the rate remained stable at PKR 160.09.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 25 paisa per USD showing an intraday high bid of 160.16 and an intraday Low offer of 159.98.

During the week, the currency has gained 5 paisa against the greenback, as the previous week was concluded at PKR 160.14 per USD.

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

Meanwhile, the currency gained 62 paisa against the Pound Sterling as the day's closing quote stood at PKR 216.81 per GBP, while the previous session closed at PKR 217.43 per GBP.

On the other hand, PKR's value weakened by 35 paisa against EUR which closed at PKR 196.22 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.683.35 billion for 10 days at 7.03 percent.

The overnight repo rate towards the 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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