PKR trades 62 paisa higher against USD

MG News | October 15, 2020 at 03:24 PM GMT+05:00

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October 15, 2020 (MLN): Pakistani rupee (PKR) appreciated by 62 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 162.86 per USD against yesterday's closing of PKR 163.48 per USD. This has been the strongest rupee since May 28, 2020 when the dollar closed at 161.987.

The rupee saw a volatility-free session as a very little movement was recorded trading in a range of 50 paisa per USD showing an intraday high bid of 163.20 and an intraday Low offer of 162.80.

Within the Open Market, PKR was traded at 163/164.20 per USD.

Alternatively, the currency lost 38 paisa to the Pound Sterling as the day's closing quote stood at PKR 211.42 per GBP, while the previous session closed at PKR 211.03 per GBP.

On the other hand, PKR's value strengthened by 1.2 rupees against EUR which closed at PKR 190.91 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 mopped up Rs.57.4 billion for 1 day at 6.92 percent.

The overnight repo rate towards the close of the session was 6.40/6.60 percent, whereas the 1-week rate was 6.85/6.95 percent.

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