February 12, 2008	Tuesday	Safar 04, 1429

KARACHI, Feb 11: The rupee slipped further on Monday as importers bought dollars to cover payments, especially for oil, dealers said.

The rupee closed at 62.91/95, easing from 62.87/88 on Saturday.

“The rupee has weakened mainly due to import payments, but it should steady in the coming days,” said a brokerage house dealer.

Dealers said healthy dollar inflows, particularly from growing remittances from overseas Pakistanis, are likely to support the rupee going forward.

In the money market, overnight call rates ended at 4 per cent, down from Saturday’s 8.75 per cent, following inflows of Rs17.5 billion from maturing government securities.—Reuters