PKR weakens by 3 paisa in a week

April 10, 2020 (MLN): Pakistani rupee (PKR) appreciated by 39 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 166.79 per USD, against yesterday's closing of PKR 167.19 per USD.

The rupee witnessed a mild activity in intraday trade as it was traded in a range of 95 paisa per USD showing an intraday high bid of 167.05 and an intraday Low offer of 166.40.

During the week, the currency has lost 3 paisa against the greenback, as the previous week was concluded at PKR 166.77 per USD.

Within the Open Market, PKR was traded at 167/168.50 per USD.

Alternatively, the currency lost 66 paisa to the Pound Sterling as the day's closing quote stood at PKR 208.04 per GBP, while the previous session closed at PKR 207.38 per GBP.

Similarly, PKR's value weakened by 72 paisa against EUR which closed at PKR 182.43 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.816.4 billion for 7 days at 11.01 percent.

The overnight repo rate towards close of the session was 10.90/11.10 percent, whereas the 1 week rate was 10.95/11.00 percent.

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Posted on: 2020-04-10T14:57:00+05:00