ARY News reported this morning that the US dollar (USD) decreased by 2.48rupees in the interbank, now trading at 304.50 rupees. Forex dealers notedthat the greenback rate also dropped by two rupees in the open market,currently trading at 310 Pakistani rupees.
The Pakistani rupee (PKR) has shown significant improvement against the USDin the open market over the past three days, gaining Rs18 against thegreenback.
According to currency dealers, banks are selling the dollar to importers atRs 305.70. Malik Bostan, President of the Forex Association of Pakistan,predicts that the US dollar will continue to decline, potentially reachingRs 300.
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Notably, the caretaker government has initiated a crackdown on dollarsmuggling and organized crime, targeting facilitators linked to governmentofficials. This effort includes deploying plain-clothed law enforcementpersonnel at exchange companies nationwide
