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Viewing Single Post From: UPDATED NEWS
waqarabro	May 10 2008, 09:42 PM
Swash-buckling Posts: 337 Group: Members Member #553 Joined: October 21, 2007	Rupee hits record low against US dollar KARACHI: The Pakistani rupee fell 0.95 percent against the US dollar on Thursday to a new record low and it has now depreciated 8.9 percent since the beginning of the year. Dealers said the rupee was under pressure from increased demand for dollars from importers, particularly for purchases of oil, with crude prices scaling record highs. The rupee closed at 67.08/20 to the dollar compared with the previous closing low of 66.45/55 set on Wednesday. “We are not seeing any inflows and at the same time international oil prices keep rising,” said a bank trader. Dealers said the rupee could fall to as low as 70 to the dollar in coming days. reuters Mengal release likely within 24 hours KARACHI: Sardar Akhtar Mengal, the president of the Balochistan National Party (BNP), is likely to be released within the next 24 hours. Sindh Home Secretary Arif Ahmed Khan said the Sindh government would likely approach the relevant court on Friday for the withdrawal of the last remaining case against Mengal. Hundreds of party supporters had rushed to Karachi’s Liaquat National Hospital on Thursday after rumours that Mengal was being released from an 18-month detention on Thursday. The party has announced protest rallies across Balochistan and Sindh at 4pm today (Friday). staff report
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