04-04-2008, 03:03 AM
[center]<b><span style='font-size:21pt;line-height:100%'>Forex reserves erode by $3.1b in 5 months</span></b> <!--emo&:flush--><img src='style_emoticons/<#EMO_DIR#>/Flush.gif' border='0' style='vertical-align:middle' alt='Flush.gif' /><!--endemo-->[/center]
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->KARACHI - The foreign exchange reserves of Pakistan have seen a record erosion of 3.10 billion dollars in just five months of the current financial year, reflecting the gravity of deterioration in the key fundamentals of the national economy of the country.
<b>State Bank of Pakistan has reported 13.27 billion dollars worth total foreign exchange reserves by March 29, 2008, which indicate a huge plunge of 3.10 billion dollars when matched with the record high 16.37 billion dollars reserves on November 2, 2007, The Nation learnt on Thursday.
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They claimed that the worst economic performance of the country in this fiscal would discredit the previous regime, led by President Pervez Musharraf and the new government would strive to improve the economic position in the coming financial year.</b><!--QuoteEnd--><!--QuoteEEnd-->
Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->