The US dollar continued to depreciate in the interbank market on the first day of trading this week on Monday amid a crackdown against foreign currency smugglers and illegal currency trade by the authorities.

The local unit gained Re0.9 against the greenback in the interbank market today. The PKR closed at Rs290.86 after appreciating 0.31% from Friday’s close of Rs291.76, according to the latest figure shared by the State Bank of Pakistan (SBP) on its official X handle, formerly known as Twitter.

During the past two weeks, the greenback shed its value by Rs16.40 from its highest level against the rupee. In the open market, the US dollar dropped by 5 paisa to Rs293,

More to follow…