Pakistan, July 29 -- Pakistan's crackdown on black market dollar trading has strengthened the rupee, but traders say under-the-counter deals have swiftly shifted to smartphones and home deliveries instead.

Many unlicensed exchange shops have been shut since July 22, when the military spy summoned representatives of the sector to explain the US dollar's rising cost in the open market. Soon after, raids were carried out by the Federal Investigation , which tackles financial crime and smuggling.

Since the crackdown began, the rupee has rebounded from a sharp fall against the dollar earlier in July. In the open market, it firmed from 288.6 per dollar on July 19 to about 286 in recent sessions.

But traders and bankers say the trade continue...