Karachi September 8 2023: Pakistani Rupee on Friday was strengthened by PKR 2.26 against the US dollar in the interbank trading against the previous day’s closing of PKR 304.94 as central bank introduces structural reforms and government action against smuggling and hoarding of dollars.
In the interbank market, the Pakistan Rupee has dropped by PKR 2.26 or 0.7 percent, bringing its trading rate to 302.68 (PST 10:20) against the Dollar. Notably, during the previous session, the Rupee concluded trading at 304.4 against the Dollar in the same market.
To prevent smuggling and hoarding of dollar, the government launched a massive crackdown against the elements involved in dollar smuggling, hoarding and organized crime cartels, causing loss to the national economy.
Strict action is being taken after the identification of facilitators and patrons of government officials indulged in illegal economic activities.
Accordingly, complete lists of the elements involved in illegal economic activities have been prepared; and an extensive crackdown is underway.
Consequently in open market, Pakistan Rupee gains PKR 28 rupees in last three days against the dollar. The buying and selling rates of the dollar in the open market on Thursday stood at PKR 305 and PKR 308 respectively, according to the Forex Association of Pakistan (FAP).