Rupee strengthens as dollar's slide continues
Last updated on: 13 September,2019 06:00 pm
In the open market, the US dollar fell 10 paisa and the greenback closed at Rs156.30.
KARACHI (Dunya News) – Pakistani Rupee bounces back against US dollar in interbank and Open market.
The Interbank dollar became cheaper by one paisa, after which the new value of the US currency closed at Rs156.19.
Likewise, in the open market, the value of the dollar fell, the US dollar fell 10 paisa and the greenback was closed at Rs156.30.
On Thursday, the US dollar depreciated against the Pakistani rupee by 12 paisa in the interbank market and closed at Rs156.18. In the open market, the green back plunges by 10 paisa to close at 156.60.
On Friday, the Pakistani rupee depreciated against the US dollar by 20 paisa in the open market and closed at Rs156.70, while the green back falls at 6 paisa to close at 156.32 in the interbank market.
The rupee traded within a very narrow range of 56 paisa per USD showing an intraday high bid of 156.80 and an intraday Low offer of 156.28.
During the week, the currency has gained 53 paisa against the greenback, as the previous week was concluded at PKR 156.86 per USD.
Within the Open Market, PKR was traded at 156.20/157.50 per USD.
Alternatively, the currency lost 39 paisa to the Pound Sterling as the day s closing quote stood at PKR 192.27 per GBP, while the previous session closed at PKR 191.88 per GBP.
On the other hand, PKR’s value strengthened by 3 paisa against EUR which closed at PKR 172.56 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.1.21 trillion for 7 days at 13.32 percent.
The overnight repo rate towards the close of the session was 13.25/13.50 percent, whereas the 1-week rate was 13.30/13.40 percent.