PKR strengthens by 8 paisa in a week

By MG News | February 07, 2020 at 04:21 PM GMT+05:00

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February 07, 2020 (MLN): Pakistani rupee (PKR) appreciated by 9 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 154.41 per USD, against yesterday's closing of PKR 154.49 per USD.

The rupee traded within a very narrow range of 9 paisa per USD showing an intraday high bid of 154.51 and an intraday Low offer of 154.43.

During the week, the currency has gained 8 paisa against the greenback, as the previous week was concluded at PKR 154.49 per USD.

Within the Open Market, PKR was traded at 154.20/154.70 per USD.

Meanwhile, the currency gained 1 rupees against the Pound Sterling as the day's closing quote stood at PKR 199.62 per GBP, while the previous session closed at PKR 200.64 per GBP.

Similarly, PKR's value strengthened by 64 paisa against EUR which closed at PKR 169.28 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.797.55 billion for 7 days at 13.26 percent.

The overnight repo rate towards close of the session was 13.30/13.40 percent, whereas the 1 week rate was 13.27/13.30 percent.

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