Rupee at record low against dollar

KARACHI, The Pakistani rupee fell to a record low on Monday because of increased dollar demand for import payments.

A currency dealer said the rupee traded as low as 86.07,beating the previous record low on Sept 24 of 86.03.

The rupee ended at 86.10/14 to the dollar, compared with Friday's close of 86.04/09. Dealers expect the local unit to weaken further.

"The rupee is traded at 86.12 in TOM (one-day forward)market," said another dealer.