KARACHI – The Pakistani rupee continued gaining streak against the US dollar in the interbank trading session on Friday.
The dollar lost another Rs0.87 in the opening session of intra-day trading session and was being traded at Rs282.75 around 10:51am.
Last week, the Pakistani rupee continued its upward momentum and settled at 284.68.
Since reaching a historic peak over the past few weeks, the dollar lost over Rs26 in both the open market and interbank as authorities tightened the noose around hoarders and smugglers.
Furthermore, the gap between the interbank market and the open market also shrank massively.
Pakistani authorities launched a massive crackdown against the elements involved in dollar smuggling and hoarding to prevent damage to the national economy. The government has also ordered to take strict action against unauthorised money changers and other mafias operating in the country.
