KARACHI, March 6: The US dollar on Wednesday lost 12 paisa for selling against the rupee in the inter-bank market where it closed at Rs60.08/60.10 against the previous close of Rs60.12/Rs60.17.

Some bankers said the dollar saw an intra-day low of Rs60.05 but they would not say if a deal was struck at this rate. Senior bankers said the day started with dollar trading at Rs60.13/Rs60.15 for ready buying and selling but it started falling on selling by some banks.

Several bankers said the SBP had persuaded the banks to sell dollars to keep the greenback below the psychologically important level of Rs 60.20. SBP officials never admit this charge and say that banks buy or sell foreign exchange according to their daily needs.

In the kerb market, however, the dollar gained 10 paisa to close at Rs60.15/Rs60.25 for spot buying and selling. Money changers said the greenback went up on buying from overseas Pakistanis who are now returning abroad after celebrating Eid in Pakistan. They said some speculators had also entered the market.