PKR trades 70 paisa higher against USD

MG News | October 01, 2020 at 04:03 PM GMT+05:00

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October 01, 2020 (MLN): Pakistani rupee (PKR) appreciated by 70 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 165.01 per USD, against yesterday's closing of PKR 165.7 per USD.

The Rupee saw moderate volatility in today’s session and traded in a range of 82 paisa per USD showing an intraday high bid of 165.63 and an intraday Low offer of 164.95.

Meanwhile, the currency gained 90 paisa against the Pound Sterling as the day's closing quote stood at PKR 212.67 per GBP, while the previous session closed at PKR 213.57 per GBP.

On the other hand, PKR's value weakened by 60 paisa against EUR which closed at PKR 194.34 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.30 billion for 1 day at 7.08 percent.

The overnight repo rate towards close of the session was 7.35/7.40 percent, whereas the 1 week rate was 7.00/7.10 percent.

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