PKR weakens by 14 paisa against greenback

November 17, 2020 (MLN): Pakistani rupee (PKR) depreciated by 14 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 158.31 per USD, against yesterday's closing of PKR 158.17 per USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 15 paisa per USD showing an intraday high bid of 158.28 and an intraday Low offer of 158.15.

Within the Open Market, PKR was traded at 157.50/158.50 per USD.

Alternatively, the currency gained 2 paisa against the Pound Sterling as the day's closing quote stood at PKR 209.18 per GBP, while the previous session closed at PKR 209.19 per GBP.

On the other hand, PKR's value weakened by 12 paisa against EUR which closed at PKR 187.81 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.93.4 billion for 3 days at 7.05 percent.

The overnight repo rate towards close of the session was 6.90/7.10 percent, whereas the 1 week rate was 7.00/7.05 percent.

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