Rupee continues to depreciate

MG News | July 23, 2019 at 04:01 PM GMT+05:00

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July 23, 2019 (MLN): Pakistani rupee (PKR) depreciated by 6 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 160.59 per USD, against yesterday's closing of PKR 160.53 per USD.

The rupee traded within a very narrow range of 59 paisa per USD showing an intraday high bid of 160.75 and an intraday Low offer of 160.25.

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

Alternatively, the currency gained 54 paisa against the Pound Sterling as the day's closing quote stood at PKR 199.55 per GBP, while the previous session closed at PKR 200.09 per GBP.

Similarly, PKR's value strengthened by 51 paisa against EUR which closed at PKR 179.55 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.76.8 billion for 3 days at 13.36 percent.

The overnight repo rate towards close of the session was 13.30/13.40 percent, whereas the 1 week rate was 13.35/13.45 percent.

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