Healthy trend in the country's remittance, helped the rupee against dollar in the interbank market on Wednesday, picking up two paisa for buying at Rs 60.60 and it also gained one paisa for selling at Rs 60.62, money dealers said.
They said inflow of dollars was high, providing it (the rupee) a chance to look ahead with gradual rise in terms of the US currency. The remittances sent by the overseas Pakistanis went up with an improvement of 21.35 percent to 985.20 million dollars during the first two months of the current fiscal year 2007-08, they added.
In the third session of the week dollar hit a 15-year low against a basket of currencies on Wednesday, extending its slide from the previous day after the Federal Reserve surprised markets with a hefty half-point rate cut to help shore up the economy.
The slashing of overnight interest rates to 4.75 percent from 5.25 percent sparked broad dollar selling while boosting stocks and higher-yielding currencies on hopes for a quick US economic recovery.
The feature of the day was euro's gain versus the rupee, as it crossed the barrier of Rs 84 after winning ground in the global market, dealers said. The single European currency picked up 67 paisa in relation to the rupee at Rs 84.30 and 84.40, they said.

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Kerb Buying             Rs 60.65
Kerb Selling            Rs 60.70
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Buying                Rs 60.60
Selling               Rs 60.62
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