KARACHI, May 30: The rupee gained slightly on Friday on expectations of fresh inflows of foreign currency in the short-term, dealers said.

The rupee was quoted at Rs66.75/95 to the dollar at the close compared with Thursday’s close of 66.95/67.25.

Dealers said deals were struck between Rs66.10/15 to Rs66.85/90 to the dollar.

The rupee has depreciated 8.4 per cent against the dollar this year, mostly in recent weeks, but has recovered 4 per cent from a record closing low set on May 20.

“Trade was slightly dull today but rupee could strengthen to 66 in the coming days on expectations of foreign inflows,” said a currency dealer in Karachi.

Dealers said the tightening of monetary policy last week also helped curb speculation and stabilised the currency.

In the money market, overnight call rates rose to 4 percent, compared with 1 per cent on Thursday after the State Bank mopped up Rs10.45 billion in one-day repo at 8.38 per cent.—Reuters