The Pakistani rupee’s positive trend against the US dollar persisted inboth 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 ofRs304.94.
Concurrently, the Forex Association of Pakistan indicated that in the openmarket, the dollar was being exchanged at a rate of Rs305. It’s worthnoting that the caretaker government has taken significant steps inresponse to the issue of greenback smuggling, particularly afteridentifying individuals associated with government officials who facilitatesuch activities.
In an effort to combat the smuggling of dollars, as well as the hoardingof foreign currency and organized criminal activities related to it, thecaretaker government has decided to launch a comprehensive crackdown. Theprocess of identifying these facilitators and patrons within the governmentranks has already been initiated, resulting in the compilation of a listfor further action.
