Rupee, overnight rates end flat

Published May 11, 2012

KARACHI: In the currency market on Friday, the Pakistani rupee ended almost flat at 90.86/90 to the dollar, compared to Thursday’s close of 90.85/89.

The rupee has been supported by remittances, which rose 20.2 per cent to $10.88 billion in the first 10 months of the 2011/12 fiscal year, compared with $9.05 billion in the same period last year.

In April, remittances totaled $1.14 billion.

Overnight rates in the money market ended at 11.90 per cent, the same level as Thursday.

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