PKR weakens by 36 paisa in a week

August 21, 2020 (MLN): Pakistani rupee (PKR) appreciated by 9 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 168.29 per USD, against yesterday's closing of PKR 168.38 per USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 6 paisa per USD showing an intraday high bid of 168.32 and an intraday Low offer of 168.28.

During the week, the currency has lost 36 paisa against the greenback, as the previous week was concluded at PKR 167.93 per USD.

Within the Open Market, PKR was traded at 168/169 per USD.

Alternatively, the currency lost 2.2 rupees to the Pound Sterling as the day's closing quote stood at PKR 222.3 per GBP, while the previous session closed at PKR 220.1 per GBP.

On the other hand, PKR's value strengthened by 11 paisa against EUR which closed at PKR 198.85 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.1226.8 billion for 7 days at 7.01 percent.

The overnight repo rate towards close of the session was 7.00/7.10 percent, whereas the 1 week rate was 7.00/7.05 percent.

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