Rupee hits record low at Rs 90 to US dollar on 21st December 2011

KARACHI: The Pakistani rupee traded at a record low on Wednesday hurt by import payments and a bleak economic outlook for the country.

According to the interbank rate, the rupee was trading at Rs 90 to a US dollar.

Tuesday, 20th December

The dollar recorded growth against the rupee in the interbank market, dealers said Tuesday. It initiated the day’s trading at Rs 89.8 for buying, increased nine paisas and closed at Rs 89.89 for buying and Rs 89.94 for selling. The Euro witnessed gain against the rupee as it started the day’s trading at Rs 117.01 for buying, gained 53 paisas and closed at Rs 117.54 for buying and Rs 117.74 for selling. The British currency increased its value against local currency, it began the day’s trading at Rs 139.08 for buying, went Rs 1.5 up and closed at Rs 140.58 for buying and Rs 140.78 for selling.

Open market: The dollar witnessed growth against the rupee, dealers said. It initiated the day’s trading at Rs 89.7 for buying, gained ten paisas and closed at Rs 89.8 for buying and Rs 90.3 for selling. The European currency increased its strength against the rupee as it started the day’s trading at Rs 116.2, rose 30 paisas and closed at Rs 116.5 for buying and Rs 118.5 for selling. The British pound recorded bullish behaviour in its strength against local currency, it began the day’s trading at Rs 138.5 for buying, moved 50 paisas up and closed at Rs 139 for buying and Rs 140.7 for selling

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