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Top News

Finance ministry terms exchange rate stability as hallmark

ISLAMABAD : The Ministry of Finance termed the stability in the exchange rate as the hallmark of the current year's econ
Published May 25, 2011

hafeezISLAMABAD: The Ministry of Finance termed the stability in the exchange rate as the hallmark of the current year's economic performance.

The government is committed to take appropriate measures to maintain the stability, spokesman of the ministry said in a statement.

The spokesman said that the stability was based on a solid foundation of extraordinary growth in exports, outstanding remittances' performance and stability in foreign exchange reserves.

The exports registered a growth of 28 percent in last ten months while the remittances have gone up to more than a billion dollar per month in last two months and crossing a double digit mark to $ 11.2 billion at the end of current financial year.

Finally, he said that Foreign Exchange Reserves were also at historic level at above $ 17 billion.

Copyright AFP (Agence France-Presse), 2011

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