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Rupee Hits Six-Month Record Low

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Posted by on Tuesday, August 26, 2014, 12:38
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Pakistan’s beleaguered rupee, after a brief period of relative stability, hit a six-month low against the US dollar as country’s political crisis lingers on.

In early Monday trade, the rupee lost 50 paisas against the greenback to trade at 102.15 to a dollar in the official interbank market.

The rupee has been relatively stable at 98/99 to a dollar before the start of long marches in Islamabad but political instability has increased dollar demand as investors are uncertain about economic prospects.

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