PKR strengthens by 7 paisa in a week

MG News | July 24, 2020 at 03:30 PM GMT+05:00

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July 24, 2020 (MLN): Pakistani rupee (PKR) appreciated by 36 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 167.26 per USD, against yesterday's closing of PKR 167.63 per USD.

The rupee traded within a very narrow range of 35 paisa per USD showing an intraday high bid of 167.55 and an intraday Low offer of 167.25.

During the week, the currency has gained 7 paisa against the greenback, as the previous week was concluded at PKR 167.33 per USD.

Within the Open Market, PKR was traded at 167.25/168.25 per USD.

Alternatively, the currency lost 6 paisa to the Pound Sterling as the day's closing quote stood at PKR 213.06 per GBP, while the previous session closed at PKR 213 per GBP.

Similarly, PKR's value weakened by 4 paisa against EUR which closed at PKR 194.26 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.1,031.22 billion for 10 days at 7.01 percent.

The overnight repo rate towards close of the session was 7.00/7.05 percent, whereas the 1 week rate was 7.00/7.20 percent.

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