KARACHI – The Pakistan rupee continued to thrash US dollar in both interbank and open markets on Friday after it witnessed record low in over past few days.
The foreign currency depreciated by Rs2 as it closed at Rs302.94 in the interbank market amid hopes that rupee would registered more gains in coming days.
Interbank closing #ExchangeRate for todayhttps://t.co/gbkgjFi1m6#SBPExchangeRate pic.twitter.com/MsHUElJGRu
— SBP (@StateBank_Pak) September 8, 2023
In the open market, the greenback shed Rs4 to drop to Rs304 against rupee.
A day earlier, the rupee gained Rs2.03 against the US dollar in the interbank trading and closed at Rs304.94 against the previous day’s closing of 306.97.
In the open market, the dollar came down to Rs307 after rupee strengthened by Rs5, according to the Forex Association of Pakistan (FAP).
The government has launched a massive crackdown against the elements involved in dollar smuggling, hoarding to prevent damages to the national economy.
The government has also ordered to take strict action against unauthorised money changers and other mafias operating in the country.
SBP introduces structural reforms for Exchange Companies to ensure transparency
