PKR weakens by 13 paisa in a week

May 15, 2020 (MLN): Pakistani rupee (PKR) closed today's trading session relatively unchanged against the USD with the rate remaing stable at PKR 160.1

The Rupee saw moderate volatility in today’s session and traded in a range of 90 paisa per USD showing an intraday high bid of 160.10 and an intraday Low offer of 159.50.

During the week, the currency has lost 13 paisa against the greenback, as the previous week was concluded at PKR 159.97 per USD.

Within the Open Market, PKR was traded at 159.50/160.80 per USD.

Alternatively, the currency lost 6 paisa to the Pound Sterling as the day's closing quote stood at PKR 195.54 per GBP, while the previous session closed at PKR 195.47 per GBP.

On the other hand, PKR's value strengthened by 1 paisa against EUR which closed at PKR 173.14 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.1.22 trillion for 7 days at 9.02 percent.

The overnight repo rate towards close of the session was 9.00/9.05 percent, whereas the 1 week rate was 9.00/9.05 percent.

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