Karachi  - The Pakistani rupee on Friday hit a record low for the second time in a month following continued political turmoil and the deteriorating security situation, traders said.

The rupee fell to an all-time low of 77.10 against the US dollar in the open market as parliamentary coalition partners are increasingly at odds over reinstating superior court judges deposed by former president Pervez Musharraf last year.

A powerful suicide bombing at a military industrial compound on Thursday that killed at least 70 people has accelerated the crisis of confidence already gripping the markets as businessmen raced to buy foreign currencies fearing a further slide in the rupee.

The State Bank of Pakistan on Thursday revealed its foreign exchange reserves have dipped by 352 million dollars to 9.5 billion dollars in a week. The bank has lost more than 6 billion dollars in eight months.

The value of the rupee has decreased by 18 per cent in four months due to the prolonged political chaos over Musharraf's fate and wrangling over the judges issue. (dpa)