PKR weakens by 23 paisa in a week

MG News | December 24, 2020 at 03:23 PM GMT+05:00

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December 24, 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 160.32 per USD, against yesterday's closing of PKR 160.55 per USD.

The rupee traded within a very narrow range of 20 paisa per USD showing an intraday high bid of 160.40 and an intraday Low offer of 160.25.

During the week, the currency has lost 23 paisa against the greenback, as the previous week was concluded at PKR 160.09 per USD.

Within the Open Market, PKR was traded at 160/160.80 per USD.

Alternatively, the currency lost 2.3 rupees to the Pound Sterling as the day's closing quote stood at PKR 217.66 per GBP, while the previous session closed at PKR 215.32 per GBP.

Similarly, PKR's value weakened by 13 paisa against EUR which closed at PKR 195.68 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.75 billion for 4 days at 7.1 percent.

The overnight repo rate towards close of the session was 7.10/7.20 percent, whereas the 1 week rate was 7.02/7.07 percent.

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