Rupee touches record low, closes at 89.80 against US dollar

Previous record low had been just last week when unit had touched 89.72 in the open market.

KARACHI: The rupee fell to a record low on Monday amid the growing concerns over Pakistan-US ties.

The local unit closed at 89.80 in the open market against the greenback on account of import payments.

However, previously it has closed at 87.57/64 on Friday, September 16, whereas the previous record low had been just last week when the unit had touched 89.72 in the open market.

The benchmark Karachi Stock exchange (KSE) index was 11264.85, down 342.01 points in the morning session.

Moreover, Asian markets tumbled and the euro fell against greenback as traders fear European leaders will not be able to find a solution to the region's debt.