The Pakistani rupee (PKR) continued its upward trend, appreciating by 15 rupees against the US dollar in the interbank market fin last two trading weeks, closing at PKR 291.76 per USD.
In Friday’s trading session alone, the currency gained 1.02 rupees, closing at PKR 292.78 per USD. In the open market, the rupee strengthened by 1 rupee against the USD, with Exchange Companies quoting buying rates at 292 and selling rates at 295, as opposed to the previous rates of 293 for buying and 296 for selling.
This strengthening was driven by ongoing efforts to crack down on speculators, hoarders, and smugglers, with some bank staff members also exposed for colluding in these illegal activities.
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