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| India-Pakistan |
| Rupee drops to record low against dollar |
| 2012-05-30 |
[Dawn]  The Pakistani rupee on Tuesday closed at a record low of 92.90/95, with sustained pressure on the currency because of increased import payments, especially for oil. The rupee had closed at 92.14/19 on Monday, a record low at the time. Overnight rates in the interbank market rose to 11.50 per cent, from 10.75 per cent on Monday, because of decreased liquidity. |
| Posted by:Fred |
| #3 Whats happening is that banks have to maintain reserves in top quality bonds, etc, and with countries being downgraded left and right, banks are dumping these bonds and buying the bonds of AAA rated countries and that means US bonds, because it has far the biggest supply. |
| Posted by: phil_b 2012-05-30 06:25 |
| #2 Gaining elsewhere as well. 1.00 EUR = 1.24435 USD |
| Posted by: Besoeker 2012-05-30 05:16 |
| #1 A rupee for your thoughts |
| Posted by: Anguper Hupomosing9418 2012-05-30 01:37 |