PKR weakens by 16 paisa in a week

January 15, 2021 (MLN): Pakistani rupee (PKR) depreciated by 15 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 160.33 per USD, against yesterday's closing of PKR 160.18 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 160.35 and an intraday Low offer of 160.25.

During the week, the currency has lost 16 paisa against the greenback, as the previous week was concluded at PKR 160.17 per USD.

Within the Open Market, PKR was traded at 159.80/160.50 per USD.

Meanwhile, the currency lost 9 paisa to the Pound Sterling as the day's closing quote stood at PKR 218.9 per GBP, while the previous session closed at PKR 218.81 per GBP.

On the other hand, PKR's value strengthened by 14 paisa against EUR which closed at PKR 194.48 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.975.05 billion for 7 days at 7.04 percent.

The overnight repo rate towards the close of the session was 7.15/7.20 percent, whereas the 1-week rate was 7.05/7.15 percent.

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