PKR strengthens by 28 paisa in a week

July 30, 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 166.98 per USD, against yesterday's closing of PKR 166.79 per USD.

The rupee traded within a very narrow range of 69 paisa per USD showing an intraday high bid of 167.70 and an intraday Low offer of 167.10.

During the week, the currency has gained 28 paisa against the greenback, as the previous week was concluded at PKR 167.26 per USD.

Within the Open Market, PKR was traded at 166.50/167.50 per USD.

Meanwhile, the currency lost 70 paisa to the Pound Sterling as the day's closing quote stood at PKR 216.89 per GBP, while the previous session closed at PKR 216.2 per GBP.

Similarly, PKR's value weakened by 24 paisa against EUR which closed at PKR 196.28 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.210.5 billion for 8 days at 7.01 percent.

The overnight repo rate towards close of the session was 7.30/7.40 percent, whereas the 1 week rate was 7.10/7.20 percent.

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