KARACHI – The Pakistani rupee on Thursday continued its recovery against the US dollar in both interbank and open markets as government has started taking measures against smuggling and hoarding of dollars.
The local currency 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.
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