Updated at: 2039 PST, Wednesday, September 29, 2010
 KARACHI: The Pakistani rupee fell to a record low on Wednesday because of increased dollar demand for import payments, especially for oil, dealers said.
A currency dealer said the rupee traded as low as 86.29,beating the previous record low of 86.25 the previous day.
The rupee ended at 86.24/29 to the dollar, compared with Tuesday's close of 86.22/28.
Dealers expect the local unit to weaken further. The rupee has lost 1.51 percent this year, after falling6.17 percent in 2009.
Overnight rates ended flat at 10percent, unchanged from Tuesday's close and dealers said the next inflow amounting to 8 billion Pakistani rupees ($92.7million) were scheduled for Friday. |
ShareThis
