PKR weakens by 48 paisa against greenback

MG News | August 03, 2020 at 04:14 PM GMT+05:00

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August 03, 2020 (MLN): Pakistani rupee (PKR) depreciated by 48 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 167.46 per USD, against last session's closing of PKR 166.98 per USD.

The Rupee saw moderate volatility in today’s session and traded in a range of 94 paisa per USD showing an intraday high bid of 167.45 and an intraday Low offer of 166.70.

Within the Open Market, PKR was traded at 166.50/167.50 per USD.

Meanwhile, the currency lost 2.5 rupees to the Pound Sterling as the day's closing quote stood at PKR 219.44 per GBP, while the previous session closed at PKR 216.89 per GBP.

Similarly, PKR's value weakened by 89 paisa against EUR which closed at PKR 197.16 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.1100 billion for 4 days at 7.02 percent.

The overnight repo rate towards close of the session was 7.05/7.15 percent, whereas the 1 week rate was 7.00/7.10 percent.

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