KARACHI: The rupee appreciated against the US dollar in both the interbank and open markets on Thursday, following a fresh crackdown on currency smuggling, according to currency dealers.

Exchange companies reported a decline in dollar rates, reversing the earlier upward trend despite strong economic fundamentals. The greenback had been gaining despite record remittances during FY25, which ended on June 30. Other supportive factors included a current account surplus and foreign exchange reserves exceeding the IMF’s........

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