KARACHI, Oct 31: The rupee has gained 10 paisa against the US dollar in two days in the inter-bank market falling rising from 58.99 on Tuesday to 58.89 on Thursday.

Bankers said the rupee gained on increased inflow of foreign currencies both through exports as well as through remittances from expatriate Pakistanis. They said the demand for the dollar was low.

In the kerb market the rupee gained 10 paisa in two days. Money changers said it inched up to 58.85/58.90 for spot buying and selling on Thursday against 58.95/59.00 on Tuesday. But the Forex Association of Pakistan said the rupee gained five paisa in spot selling rising from 58.97/59.05 on Tuesday to 58.95/59.00 on Thursday.

“There was big inflow in the market from the USA and the Middle East,” said Anwar Jamal of Galaxy International. Overseas Pakistanis start sending additional money back home ahead of Ramazan both from the banking channels as well as through money changers.