US Dollar closes below Rs 160

MG News | November 03, 2020 at 04:22 PM GMT+05:00

0:00

November 03, 2020 (MLN): Amid positive macroeconomic data, the US dollar (USD) closed below PKR 160 on Tuesday at the interbank market. This has been the lowest USD rate since May 08, 2020 when it closed at Rs 159.966.

Pakistani rupee (PKR) appreciated by 14 paisa against USD in today's interbank session as the currency closed the day's trade at PKR 159.97 per USD, against yesterday's closing of PKR 160.11 per USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 18 paisa per USD showing an intraday high bid of 160.13 and an intraday Low offer of 160.00.

Within the Open Market, PKR was traded at 159.70/160.50 per USD.

Alternatively, the currency lost 1.4 rupees to the Pound Sterling as the day's closing quote stood at PKR 207.38 per GBP, while the previous session closed at PKR 206 per GBP.

Similarly, PKR's value weakened by 80 paisa against EUR which closed at PKR 186.95 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 6.90/7.10 percent, whereas the 1 week rate was 7.00/7.10 percent.

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