Rupee drops to record low against dollar

Published May 29, 2012 01:30pm

The rupee had closed at 92.14/19 on Monday, a record low at the time.—File Photo

KARACHI: The Pakistani rupee on Tuesday closed at a record low of 92.90/95, with sustained pressure on the currency because of increased import payments, especially for oil. The rupee had closed at 92.14/19 on Monday, a record low at the time.

Overnight rates in the interbank market rose to 11.50 per cent, from 10.75 per cent on Monday, because of decreased liquidity.

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