The Pakistani rupee continued to appreciate against the US dollar in both the interbank and open markets.
Rupee recovery in interbank market: The rupee increased by Rs1.99 to settle at Rs302.95 in the interbank market from the previous closing of Rs304.94, according to the State Bank of Pakistan (SBP).
The open market price of the dollar was Rs305, according to the Pakistani Forex Association.
It is important to note that the caretaker administration has declared the start of a crackdown on dollar smuggling in light of the identification of facilitators connected to government figures.
The caretaker administration resolved to launch a thorough crackdown to target money laundering, stockpiling, and organised crime.
Government officials have already been identified as facilitators and patrons, and a list has been created specifically for this purpose.