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KARACHI, May 30: The US dollar gained 10 paisa in spot buying and selling in the kerb market on Thursday on short supply. Forex Association of Pakistan said the greenback closed at Rs60.40/ Rs60.50 against the previous close of Rs60.30/Rs60.40.
But dealers at major currency brokerages said the dollar traded at Rs60.50/Rs60.60 for spot buying and selling throughout the day.
In the inter-bank market also the dollar gained two paisa more to close at Rs60.15/Rs60.17 for ready buying and selling on the back of oil import and debt payments. Some bankers said they had seen dollar trading even at Rs60.18.
MONEY MARKET: The inter-bank money market remained stable with overnight call rates trading at 3-6 per cent after a cumulative outflow of more than Rs 14 billion that outmatched an inflow of Rs14 billion.
The outflow took place through settlement of the Wednesday auction of treasury bills in which the central bank had sold more than Rs9 billion worth of bills plus transfer of Rs5 billion to the account of Privatization Commission. The PC got this amount as part of the price for Pak Saudi Fertilizer Company that was sold to Fauji Fertilizer Company last month. The inflow was in the shape of the maturity of treasury bills sold earlier by the central bank.
