PKR weakens by 90 paisa in a week

MG News | August 07, 2020 at 03:56 PM GMT+05:00

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August 07, 2020 (MLN): Pakistani rupee (PKR) appreciated by 25 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 167.88 per USD, against yesterday's closing of PKR 168.13 per USD.

The rupee traded within a very narrow range of 29 paisa per USD showing an intraday high bid of 167.95 and an intraday Low offer of 167.85.

During the week, the currency has lost 90 paisa against the greenback, as the previous week was concluded at PKR 166.98 per USD.

Within the Open Market, PKR was traded at 167.50/168.75 per USD.

Meanwhile, the currency gained 1.8 rupees against the Pound Sterling as the day's closing quote stood at PKR 219.79 per GBP, while the previous session closed at PKR 221.55 per GBP.

Similarly, PKR's value strengthened by 81 paisa against EUR which closed at PKR 198.55 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.1228 billion for 10 days at 7.01 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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