Rupee gains against US dollar

KARACHI: In the currency market, Wednesday, the rupee ended firmer at 90.70/75to the dollar, compared with Tuesday's close at 90.74/79 amid alack of import payments.

The rupee has been supported recently by remittances from Pakistanis overseas, which rose nearly a quarter to $8.59billion in the first eight months of the 2011/12 fiscal year, compared with $6.96 billion in the 2010/11 period.

In February, remittances totaled $1.16 billion.

In the money market, overnight rates were flat at the top level of 11.90 percent. (Reuters)