The Pakistan rupee’s winning streak against the US dollar has completed one month today (Thursday) with the local currency gaining 23.50 against the greenback since September 5 in the interbank market – thanks to the military-backed crackdown against currency smugglers. The local currency is hovering at 283.60 per dollar in the interbank market today, gaining further 1.8 against its counterpart. On September 5, the Pakistani rupee tumbled to 307.10 against the dollar in the interbank market. Since then, the Pakistani rupee has been on a recovery after the military-backed crackdown launched a crackdown on currency smugglers, hoarders, and speculators. A day earlier, the rupee closed at 284.68 to the dollar, 0.37% stronger than Tuesday’s close of 285.72. According to analysts, the rupee kept increasing as a result of a decline in the black market’s demand for dollars. “In my view, PKR appreciated against the dollar as illegal demand vanished after the crackdown,” said Samiullah Tariq, the head of research at Pak-Kuwait Investment Company. In the days to come, Tariq thinks that the rupee would strengthen to 280 to the dollar. Mustafa Mustansir, the head of research at Taurus Securities said the main reason for the rise in the value of the rupee is the crackdown on the grey markets and illegal hoarding of dollars.