PKR strengthens by 70 paisa against USD

MG News | August 31, 2020 at 04:10 PM GMT+05:00

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August 31, 2020 (MLN): Continuing its recent rebounds in the last two trading sessions, the Pakistan Rupee (PKR) appreciated by 70 paisa against the US dollar (USD) on Monday to settle at 165.80 in the interbank market compared with the previous close of Rs 166.50 per USD.

During the day, PKR traded in the range of Rs 1.15 per USD, witnessing an intra-day high bid of 166.55 and an intraday low offer of 165.75 against the US dollar.

Last week, the rupee had fallen to an all-time low of 168.4353 on August 26, 2020, against the US dollar. The Pakistani currency has appreciated by Rs 2.63 or 1.56 percent increase against the greenback for the straight three successive trading sessions.

Within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.1032.65 billion for 4 days at 7.03 percent.

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