currencycrackdown

In response to the rupee's sharp dec_line, Pakistan's intelligence agency, with backing from the army, has stepped in to curb black market dollar trading, according to the Exchange Companies Association of Pakistan.

This move echoes a similar 2023 intervention that temporarily stabilized the currency. Security forces, including the FIA, have begun targeting illegal money dealers, many of whom have now gone into hiding.

As a result, the open market dollar rate dropped by Rs. 1, signaling early impact from the enforcement actions.

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