Rupee down slide continues

KARACHI (Reuters) - The Pakistani rupee hit a record low of 87.59 to the dollar on Friday, on increased import payments and negative sentiment surrounding the countrys economic outlook, but recovered slightly to close at 87.49/54. This compared with Thursdays close of 87.42/48, and dealers expect pressure to remain on the currency in the short to medium term. The rupee was traded at 87.59 per dollar, but there is still some support at 87.50, said a dealer at a foreign bank.

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