In the interbank session today, the Pakistani Rupee (PKR) strengthens by 27 paisa and closed at PKR 160.02 per USD. The previous day it closed at PKR 160.29 per USD.
It is said that PKR, today, traded within a very narrow range of 21 paisa per USD showing an intraday high bid of 160.22 and an intraday low offer of 160.02. While, within the Open Market, PKR was traded at 160.00/160.70 per USD.
The PKR also strengthen against GBP by 99 paisa to close at PKR 217.65 per GBP. While previously it closed at PKR 218.65 per GBP.
The PKR further appreciated against EUR by 67 paisa to close at PKR 196.91 per EUR.
It is also said that within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs. 313 billion for 1 day at 7.12%.
According to the source, the overnight repo rate towards the close of the session was 7.25/7.75 percent, whereas the 1-week rate was 7.05/7.10 percent.