The Pakistani rupee extended its gains against the US dollar on Wednesday, rising 20 paisa, or 0.07%, in the inter-bank market. The currency closed at 282.22 compared to the previous day’s closing level of 282.42.

It was the rupee’s fifth consecutive day of appreciation, driven by improved market sentiment amid an ongoing crackdown on illegal currency dealers and smugglers. Last week, a court handed five-year prison terms to three illegal currency traders and fined Rs1 million each for engaging in unlawful foreign exchange operations.

In global trade, the US dollar slipped after soft US inflation data reinforced expectations of a Federal Reserve rate cut next month. Political developments in Washington, including President Donald Trump’s moves to tighten control over US institutions, als

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