Rupee touches record low – Alfalah Securities Limited

Karachi, October 25, 2012 (PPI-OT): The Pak Rupee has dropped to a record low of 95.77 against US dollar on Wednesday loosing 27 paisas in a day due to a sharp rise in the demand for US Dollar to meet import proceeds.

According to Alfalah Securities Limited, the weakening of Pak Rupee is likely to continue during FY13 as IMFSBA loan repayments after every two or three months are dragging the foreign exchange sharply. Alfalah Securities Limited expects around 8% devaluation of Pak Rupee in FY13.

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