At the start of the workweek, the interbank market witnessed a decrease of 70 paisas in the US dollar’s exchange rate, bringing it down to 290.70 Pakistani Rupees. This shift follows the closing rate of 291.76 Rupees at the end of the previous business week.
In the last two weeks, the US dollar has experienced a depreciation of 16.40 Rupees from its peak in the interbank market, reaching its lowest point in six weeks against the Pakistani Rupee. Presently, the dollar stands at 293 Rupees in the open market, having decreased by 50 paisas.
It’s important to highlight that both federal and provincial authorities have been actively engaged in combating dollar smuggling and hawala/hundi transactions nationwide. These efforts have contributed to the consistent decline in the US dollar’s value.