Twirp : Terrorist Wahabi Islamic Republic Pakistan

[Naresh]

<b>1. Forex reserves below US Dollars11 Billion</b> <!--emo&:flush--><img src='style_emoticons/<#EMO_DIR#>/Flush.gif' border='0' style='vertical-align:middle' alt='Flush.gif' /><!--endemo-->

KARACHI : The foreign exchange reserves of the country fell below $11 billion mark during the week ended on June 2008, reflecting the widening current account and trade deficits.

The foreign reserves held by the State Bank stood at $8.386 billion while those with other banks stood at $2.566 billion. <b><span style='font-size:14pt;line-height:100%'>The total reserves stood at $10.953 billion.</span></b> An extraordinarily large trade deficit, which created a huge current account deficit, has also weakened the rupee from Rs 60 against a dollar at the beginning of the current year to around Rs 68 now. staff report

<b>2. Up to US Dollars 3.5 Billion Foreign Exchange inflows to stabilize Foreign Exchange Markets : Dr Akhtar</b> <!--emo&:liar liar--><img src='style_emoticons/<#EMO_DIR#>/liar.gif' border='0' style='vertical-align:middle' alt='liar.gif' /><!--endemo-->

<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Dr Shamshad Akhtar, Governor, State Bank of Pakistan said today <b>that foreign exchange inflows <span style='font-size:14pt;line-height:100%'>to the tune of $3.0 billion to $3.5 billion are expected to come in the banking system in the short to medium-term.</span></b> These flows coupled with joint efforts of SBP – Commercial Banks will further stabilize the Pakistani Rupee parity vis-a-vis U.S. Dollar and calm down foreign exchange markets.<!--QuoteEnd--><!--QuoteEEnd-->

<b>3. On May 09, 2008 Pakistan’s Forex Reserves : US Dollars 12.2071 Billion</b>

Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->