KARACHI, Nov 29: The rupee gained 10 paisa more against the US dollar in the open market on Thursday and closed at 61.20/61.40 for spot buying and selling against the previous close of 61.30/ 61.50.

On Wednesday also the rupee had recovered 25 paisa against the US dollar on increased supply of greenbacks. Thus the local currency has gained 35 paisa in two consecutive sessions mainly due to heavy selling of foreign exchange by a number of overseas Pakistanis, who have started coming back home to celebrate Eid.

Currency dealers said the rupee might gain further on higher supply of dollars for the same reason.

In the inter-bank market the rupee closed at 60.90/60.95 per US dollar for ready buying and selling on Thursday, showing a fall of less than five paisa overnight.

Bankers termed the modest fall in the local currency value on Thursday as a nominal blip in exchange rates, adding that the rupee might remain firm in coming days on higher inflow of export dollars.