PKR weakens by 82 paisa in a week

May 21, 2020 (MLN): Pakistani rupee (PKR) depreciated by 15 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 160.92 per USD, against yesterday's closing of PKR 160.77 per USD.

The rupee traded within a very narrow range of 40 paisa per USD showing an intraday high bid of 160.90 and an intraday Low offer of 160.65.

During the week, the currency has lost 82 paisa against the greenback, as the previous week was concluded at PKR 160.1 per USD.

Within the Open Market, PKR was traded at 160/161.50 per USD.

Alternatively, the currency gained 36 paisa against the Pound Sterling as the day's closing quote stood at PKR 196.39 per GBP, while the previous session closed at PKR 196.75 per GBP.

On the other hand, PKR's value weakened by 59 paisa against EUR which closed at PKR 176.53 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.112 billion for 8 days at 8.03 percent.

The overnight repo rate towards close of the session was 8.05/8.10 percent, whereas the 1 week rate was 8.05/8.10 percent.

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