PKR weakens by 1 paisa in a week

MG News | March 06, 2020 at 05:09 PM GMT+05:00

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March 06, 2020 (MLN): Pakistani rupee (PKR) closed today's trading session relatively unchanged against the USD with the rate remaing stable at PKR 154.24

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 18 paisa per USD showing an intraday high bid of 154.42 and an intraday Low offer of 154.26.

During the week, the currency has lost 1 paisa against the greenback, as the previous week was concluded at PKR 154.23 per USD.

Within the Open Market, PKR was traded at 153.80/154.40 per USD.

Alternatively, the currency lost 1.3 rupees to the Pound Sterling as the day's closing quote stood at PKR 200.27 per GBP, while the previous session closed at PKR 199 per GBP.

Similarly, PKR's value weakened by 2 rupees against EUR which closed at PKR 173.88 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.987.5 billion for 7 days at 13.26 percent.

The overnight repo rate towards close of the session was 12.75/12.80 percent, whereas the 1 week rate was 13.10/13.20 percent.

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