<b><span style='font-size:14pt;line-height:100%'>Pakistani rupee slides to record low against US dollar as economic problems mount</span></b> <!--emo&:flush--><img src='style_emoticons/<#EMO_DIR#>/Flush.gif' border='0' style='vertical-align:middle' alt='Flush.gif' /><!--endemo--> <b>KARACHI, Pakistan, May 9 (AP) - Pakistan's currency slumped to a record low against the U.S. dollar on Friday as rising oil prices exacerbate concern about its yawning trade deficit and high inflation. The dollar was worth 69 Pakistani rupees in official interbank trading on Friday afternoon compared to 67.70 rupees the previous day.</b> Rising oil prices and falling foreign investment are fueling Pakistan's balance of payments problems and inflation, both of which undermine demand for and confidence in the rupee. Officials have already slashed costly fuel subsidies, leading to a hike in the price of gasoline and heating oil for ordinary Pakistanis. Food price inflation is also running well into double digits. (Posted @ 16:30 PST)
Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->