KARACHI, May 27: The US dollar gained four paisa more against the rupee in the inter-bank market and finished at Rs60.12/ Rs60.14 for ready buying and selling against the previous close of Rs60.08/Rs60.10.

Several leading money changers said the greenback was stable in the kerb market but according to the Forex Association of Pakistan it went up by 10 paisa to close at Rs60.50/Rs60.60 for spot buying and selling against the weekend close of Rs60.40/ Rs60.50.

Bankers said the dollar went up as some foreign banks covered their short positions amidst static supply because of the closure of New York market.

Leading money changers challenged FAP rates saying that the weekend close of the dollar was not Rs60.40/Rs60.50 as reported by the Association and Monday close was not at Rs60.50/ Rs60.60.

“It was the other way round... On Friday (the last working day of the previous week) the dollar had closed at Rs60.60/ Rs60.70 and today it finished at Rs60.40/ Rs60.50,” claimed Younus Madni of Galaxy International.

Other money changers made a similar statement. “So in effect the dollar came down on Monday,” said Madni attributing the fall to nervous selling by those investors who had amassed dollars last week for profit-taking after tension mounted on Pakistan- India borders.