May 28, 2019 (MLN): Pakistani rupee (PKR) depreciated by 48 paisa against US Dollar (USD) at today's interbank session as the currency closed the day's trade at PKR 150.23 per USD, against previous session's closing of PKR 149.75 per USD.
According to traders, today's depreciation is a result of payments due today which has entailed a rise in demand for greenback, thus pushing up their value against PKR.
The Rupee endured a volatile trading session, with the value of the currency trading in a range of 1.30 Rupee per USD showing an intraday high bid of 150.75 and an intraday Low offer of 149.9.
Meanwhile, the currency lost 8 paisa against Pound Sterling as the day's closing quote stood at PKR 190.34 per GBP, while the previous session closed at PKR 190.27 per GBP.
Similarly, PKR's value weakened by 55 paisa against EUR which closed at PKR 168.15 at the interbank today.
Within the Open Market, PKR was traded at 149.50/151.00 per USD.
On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it mopped up Rs.152.15 billion for 2 days at 12.2 percent.
The overnight repo rate towards close of the session was 12.50/12.75 percent, whereas the 1 week rate was 12.25/12.40 percent.
