As the authorities tightened their crackdown, the Pakistani rupee maintained its upward trend against the US dollar in both interbank and open markets.
In the interbank market on Tuesday, the local currency increased by Rs2.16 as its winning streak against the dollar entered its fifth straight session.
During intraday trading, the once-troubled rupee was trading around Rs299 per unit.
It is being praised that the US dollar has increased, which will probably slow the rate of rising inflation.
The local currency increased by about 2% of its total value in previous sessions. Additionally, there was a significant reduction in the distance between the interbank market and the open market.
In order to protect the country’s economy, Pakistan’s interim government launched a massive crackdown against those involved in dollar hoarding and smuggling. Additionally, the government has mandated that harsh measures be taken against other mafia groups operating in the nation as well as unauthorised money changers.
