PKR weakens by 67 paisa in a week

MG News | December 04, 2020 at 03:32 PM GMT+05:00

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December 04, 2020 (MLN): Pakistani rupee (PKR) closed today's trading session relatively unchanged against the USD with the rate remained stable at PKR 160.13.

The rupee traded within a very narrow range of 36 paisa per USD showing an intraday high bid of 160.21 and an intraday Low offer of 159.95.

During the week, the currency has lost 67 paisa against the greenback, as the previous week was concluded at PKR 159.46 per USD.

Within the Open Market, PKR was traded at 160.400/161.50 per USD.

Alternatively, the currency lost 29 paisa to the Pound Sterling as the day's closing quote stood at PKR 214.88 per GBP, while the previous session closed at PKR 214.59 per GBP.

Similarly, PKR's value weakened by 52 paisa against EUR which closed at PKR 194.72 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.715.6 for 7 days at 7.03 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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