PKR weakens by 71 paisa against greenback

MG News | March 12, 2020 at 04:16 PM GMT+05:00

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March 12, 2020 (MLN): Pakistani rupee (PKR) depreciated by 71 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 159.13 per USD, against yesterday's closing of PKR 158.42 per USD.

The rupee saw a volatility free session as very little movement was recorded trading in a range of 50 paisa per USD showing an intraday high bid of 159.10 and an intraday Low offer of 158.85.

Within the Open Market, PKR was traded at 157/158.5 per USD.

Alternatively, the currency gained 1.7 rupees against the Pound Sterling as the day's closing quote stood at PKR 203.25 per GBP, while the previous session closed at PKR 204.94 per GBP.

Similarly, PKR's value strengthened by 17 paisa against EUR which closed at PKR 179.21 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.92 billion for 8 days at 13.26 percent.

The overnight repo rate towards close of the session was 13.20/13.25 percent, whereas the 1 week rate was 13.25/13.28 percent.

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