In the forex market, the Pakistani rupee (PKR) depreciated by 17 paisa on the last day of the week. The closing rate of PKR to USD was Rs. 159.10 per USD, against the previous day’s closing of Rs. 158.93 per USD.
According to the report, the rupee traded within a tight range of 20 paisa per USD, showing an intraday high bid of 159.15 and a low offer of 158.95. Within the Open Market, the rupee traded at 158.80/159.50 per USD.
The PKR also weakened against GBP on the last day of the week. PKR lost 1.7 rupees to GBP and closed at Rs. 222.5 per GBP, while the previous day’s rate was Rs. 220.83 per GBP.
PKR also depreciated by 1.4 rupees against EUR and closed at Rs. 192.96 at the interbank today.
It is further said that SBP conducted an Open Market Operation and injected Rs within the money market. 1.31 trillion for 7 days at 7.04%.
According to the report, the overnight repo rate towards the session’s close stood at 7.05/7.15%, and the 1-week rate was 7.00/7.05%.
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