May 30, 2002	Thursday	Rabi-ul-Awwal 17,1423

KARACHI, May 29: The US dollar shed 20 paisa against the rupee in the kerb market on Wednesday. It closed at Rs60.30/ Rs60.40 for spot buying and selling against the previous close of Rs60.50/Rs60.60, according to the Forex Association of Pakistan.

But several money changers reached by Dawn over telephone said the dollar was trading at Rs60.40/Rs60.50 towards the day-end.

“The dollar fell in line with its fall in the international market,” said Younus Madni of Galaxy International. He said the greenback held firm at Rs60.40/Rs60.50 because it was in short supply, adding that once money changers get supplies from Dubai on Thursday morning the greenback would come further down.

In the inter-bank market the dollar remained stable around Rs60.13/Rs60.15 for ready buying and selling. Some bankers said the US unit was selling for Rs60.16 in the next day value.