PKR weakens by 1.1 rupees against greenback

By MG News | May 28, 2020 at 05:43 PM GMT+05:00

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May 28, 2020 (MLN): Pakistani rupee (PKR) depreciated by 1.1 rupees against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 161.99 per USD, against last session's closing of PKR 160.92 per USD.

The rupee traded within a very narrow range of 50 paisa per USD showing an intraday high bid of 161.30 and an intraday Low offer of 160.90.

Within the Open Market, PKR was traded at 160.50/161.50 per USD.

Meanwhile, the currency lost 2.1 rupees to the Pound Sterling as the day's closing quote stood at PKR 198.47 per GBP, while the previous session closed at PKR 196.39 per GBP.

Similarly, PKR's value weakened by 1.6 rupees against EUR which closed at PKR 178.15 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.1.09 trillion for 8 days at 8.03 percent.

The overnight repo rate towards close of the session was 8.00/8.25 percent, whereas the 1 week rate was 8.00/8.05 percent.

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