US dollar continue to decrease against PKR

The US dollar decline by Rs0.12 to fall to Rs281 in the interbank market. On Wednesday, the US dollar had falled by 9 paisas tofall to Rs281.13 from Rs281.22.

Since crossing the Rs300 mark a few months ago, the value of the dollar has slowly decreased in the face of a crackdown by the government against hoarding and smuggling.

The local currency started to make some ground against the dollar in interbank and open markets after the International Monetary Fund reached a staff-level agreement with Pakistan on a $3billion stand-by agreement in July 2023.