SECOND SUCH INTERVENTION, FOLLOWING A 2023 ARMY CLAMP DOWN Pakistan spy agency targets black market dollar trade

{ TO CURB RUPEE SLIDE

- Reuters

A deputy chief at Pakistan’s spy agency met with currency exchange firms this week amid a sharp slide in the rupee, leading to a crackdown on black market dollar trade, the head of the country’s forex association told Reuters on Thursday.

The move, a demonstration of the military's growing role in managing the economy, marks the second such intervention, following a 2023 army clamp down that halted an earlier sharp plunge in the currency, helping stabilise the exchange rate until this month.