PKR weakens by 95 paisa in a week

MG News | June 12, 2020 at 03:46 PM GMT+05:00

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June 12, 2020 (MLN): Pakistani rupee (PKR) appreciated by 34 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 164.25 per USD, against yesterday's closing of PKR 164.59 per USD.

The rupee traded within a very narrow range of 60 paisa per USD showing an intraday high bid of 164.80 and an intraday Low offer of 164.30.

During the week, the currency has lost 95 paisa against the greenback, as the previous week was concluded at PKR 163.3 per USD.

Within the Open Market, PKR was traded at 164/165.5 per USD.

Meanwhile, the currency gained 1.8 rupees against the Pound Sterling as the day's closing quote stood at PKR 207 per GBP, while the previous session closed at PKR 208.75 per GBP.

Similarly, PKR's value strengthened by 1.3 rupees against EUR which closed at PKR 185.83 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.1405.20 billion for 7 days at 8.03 percent.

The overnight repo rate towards close of the session was 8.00/8.15 percent, whereas the 1 week rate was 8.00/8.05 percent.

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