Rupee stable against dollar

KARACHI: The rupee gained against the dollar reflecting a positive sign of economic strength despite high rate of unemployment, low rate of economic growth and devastating floods.

The economy seems to achieve stability with slightly positive indicators, which represents healthy sign for the coming years.

According to report of the State Bank of Pakistan foreign remittances indicated a growth of 17.7 percent at Rs.6.118 billion during July-January of 2010-11.

The inflow of new record remittances and heavy inflow from IMF under the agreement were principle reasons for the stable exchange rate.

However, to reverse inflation a satisfactory growth rate is required through increasing the supply side effects policy in the economy.