The Pakistani rupee continued its impressive recovery streak as the US dollar tumbled to a three-and-a-half-month low.
The value of the dollar fell further by Rs1.02, trading at 284.70 rupees in the inter-bank exchange, marking the 20th consecutive day of decline.
The open market also witnessed a significant shift as the dollar fell by Rs1, closing at 285 rupees.
This marks a notable improvement in the exchange rate compared to previous months.
The Pakistani Rupee continued its upward trend against the US dollar in interbank trading, reaching Rs285.75 on Tuesday.
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The closing rate of USD into PKR was Rs287.72.
The PKR gained Rs1.01 against the mighty American dollar at the start of the trading season on the second day of the trading.
The local unit has continuously outperformed the US dollar as the crackdown against the dollar hoarders and the Hawala and Hundi markets across the country.
The country's civilian and military leadership gave the FIA and relevant authorities the go-ahead to go for a massive crackdown. The result of the crackdown has significantly improved the value of the Pakistani rupee as illegal trading and the smuggling of American currency has been reduced.
