KARACHI: The Pakistani rupee hit a record low on Wednesday as import payments climbed and exporters held on to their dollars because of a bleak outlook for the country's economy.

“The rupee was traded at 89.58 (to the dollar),” said a bank dealer. The rupee was trading at 89.44/50 to the dollar at 12:57 p.m. (0757 GMT), compared with Tuesday's close of 89.10/20.

The previous low was 89.45 on December 7.