Rupee gains

KARACHI, Oct 17: The rupee gained three paisa against the US dollar in the inter-bank market on Thursday to close at Rs59.05/Rs59.06 for ready buying and selling against the previous close of Rs59.08/59.09.

Senior bankers said the rupee went up on higher dollar inflows amidst low demand backed by a pro-rupee sentiment fuelled by news that India was pulling forces from along Pakistani borders.

They said the 10-year Pakistan Investment Bonds also closed at a higher level Rs111.50 against the previous close of Rs111.20 for the same reason.

Money changers said the rupee closed unchanged in the open market at Rs58.95/59.05 for spot buying and selling.

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