Rupee weakens by 61 paisa against greenback

July 11, 2019 (MLN): Pakistani rupee (PKR) depreciated by 61 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 158.49 per USD, against yesterday's closing of PKR 157.88 per USD.

The Rupee saw moderate volatility in today’s session and traded in a range of 55 paisa per USD showing an intraday high bid of 158.55 and an intraday Low offer of 158.15.

Alternatively, the currency gained 2.5 rupees against the Pound Sterling as the day's closing quote stood at PKR 198.73 per GBP, while the previous session closed at PKR 197.18 per GBP.

On the other hand, PKR's value weakened by 1.4 rupees against EUR which closed at PKR 178.62 at the interbank today.

Within the Open Market, PKR was traded at 157/159.5 per USD.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.155.35 billion for 1 day at 12.4 percent.

The overnight repo rate towards close of the session was 12.50/12.60 percent, whereas the 1 week rate was 12.35/12.45 percent.

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Posted on: 2019-07-11T17:23:00+05:00