PKR weakens by 6.9 rupees in a week

MG News | March 27, 2020 at 02:36 PM GMT+05:00

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March 27, 2020 (MLN): Pakistani rupee (PKR) appreciated by 59 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 165.54 per USD, against yesterday's closing of PKR 166.13 per USD.

The rupee endured a highly volatile trading session with quotes being recorded in a range of 5.50 rupees per USD showing an intraday high bid of 169.50 and an intraday Low offer of 164.75.

During the week, the currency has lost 6.9 rupees against the greenback, as the previous week was concluded at PKR 158.68 per USD.

Alternatively, the currency lost 4.2 rupees to the Pound Sterling as the day's closing quote stood at PKR 202.18 per GBP, while the previous session closed at PKR 198.02 per GBP.

Similarly, PKR's value weakened by 97 paisa against EUR which closed at PKR 182.72 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.937.2 billion for 7 days at 11.01 percent.

The overnight repo rate towards close of the session was 11.00/11.20 percent, whereas the 1 week rate was 11.00/11.05 percent.

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