The United States dollar remained flat against the Pakistani rupee in the interbank foreign exchange market on Tuesday.

The greenback was trading at Rs280.24 without any change at the closing of the market.

In the open market, the buying of the dollar was recorded at Rs280.2 while it was quoted at Rs282.35 for selling at the time of filing the story.

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 $3 billion stand-by agreement in July 2023.