PKR weakens by 14 paisa in a week

July 10, 2020 (MLN): Pakistani rupee (PKR) appreciated by 23 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 166.35 per USD, against yesterday's closing of PKR 166.58 per USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 36 paisa per USD showing an intraday high bid of 166.46 and an intraday Low offer of 166.30.

During the week, the currency has lost 14 paisa against the greenback, as the previous week was concluded at PKR 166.21 per USD.

Within the Open Market, PKR was traded at 166.70/168 per USD.

Meanwhile, the currency gained 1.2 rupees against the Pound Sterling as the day's closing quote stood at PKR 209.37 per GBP, while the previous session closed at PKR 210.53 per GBP.

Similarly, PKR's value strengthened by 1.4 rupees against EUR which closed at PKR 187.46 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.765.30 billion for 7 days at 7.06 percent.

The overnight repo rate towards close of the session was 7.50/7.75 percent, whereas the 1 week rate was 7.10/7.20 percent.

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