Rupee hits record low against dollar


Islamabad  -  The Pakistan rupee closed on a record low for the second day in a row to end at 91.97/92.02 to the dollar, amid higher import payments particularly for oil, compared to Tuesday’s close of 91.65/70. “Several import payments are due to go out tomorrow, mostly oil, so I expect pressure on the rupee to continue until then,” said currency dealer Sajjad Haider. Overnight rates in the money market closed almost flat at 9.00, compared to Tuesday’s close of 9.10, because of increased liquidity. 

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