PKR weakens by 20 paisa in a week

June 05, 2020 (MLN): Pakistani rupee (PKR) appreciated by 36 paisa against US Dollar (USD) in today’s interbank session as the currency closed the day’s trade at PKR 163.3 per USD, against yesterday’s closing of PKR 163.66 per USD.

The rupee traded within a very narrow range of 30 paisa per USD showing an intraday high bid of 163.50 and an intraday Low offer of 163.30.

During the week, the currency has lost 20 paisa against the greenback, as the previous week was concluded at PKR 163.1 per USD.

Within the Open Market, PKR was traded at 162.50/164.00 per USD.

Alternatively, the currency lost 2 rupees to the Pound Sterling as the day’s closing quote stood at PKR 206.71 per GBP, while the previous session closed at PKR 204.71 per GBP.

Similarly, PKR’s value weakened by 2.2 rupees against EUR which closed at PKR 185.45 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.1440 billion for 7 days at 8.02 percent.

The overnight repo rate towards close of the session was 8.00/8.15 percent, whereas the 1 week rate was 8.00/8.05 percent.

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Posted on: 2020-06-05T15:31:00+05:00