Pakistani Rupee value continues to recover in Interbank
The Pakistani rupee's positive trend against the US dollar persisted in both the interbank and open market on Friday. The State Bank of Pakistan (SBP) reported a notable increase of Rs1.99 in the interbank market, resulting in a closing rate of Rs302.95, compared to the previous rate of Rs304.94.
Concurrently, the Forex Association of Pakistan indicated that in the open market, the dollar was being exchanged at a rate of Rs305. It's worth noting that the caretaker government has taken significant steps in response to the issue of greenback smuggling, particularly after identifying individuals associated with government officials who facilitate such activities.
In an effort to combat the smuggling of dollars, as well as the hoarding of foreign currency and organized criminal activities related to it, the caretaker government has decided to launch a comprehensive crackdown. The process of identifying these facilitators and patrons within the government ranks has already been initiated, resulting in the compilation of a list for further action.