Rupee hits record low of Rs81.25 against dollar

The national currency touched a new record low against the US dollar in early trading in interbank on Thursday amid mounting economic problems. The dollar rose to Rs81.25 with the addition of 55 paisas during trading in interbank, while it is selling at Rs84 in open market. According to Forex market dealers, the dollar closed at Rs80.70 on Wednesday. The currency, which hit its previous record low last week, remains under pressure because of a brewing balance of payments crisis that has led to a steady drain on foreign currency reserves. The central bank has taken steps to curb speculation against the currency in the past few months. However, economic analysts said that the measures taken by the central bank proved insufficient. Invest Capital's Head of Research, Samiullah Tariq said that the rupee had lost its value, but added that it could gain value by improving foreign inflow in coming days.  

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