Dollar against rupee hits record

KARACHI: Dollar as against rupee in the inter-bank market has reached to a record level due to payments made for the import of crude, while dollar during the trading was seen selling at the highest level of Rs87.07. Forex market dealers said that the rupee against dollar remained under pressure in inter-bank market, as dollar against rupee during the trading was seen at Rs87.05, besides the swelling government borrowing also spurring the increase in the value of dollar. Forex market dealers said that the payments for crude escalated the demand for dollar. On the other hand, the rupee could further fall under pressure in the backdrop of persisting lackadaisical approach of the foreign investors.