08-14-2008, 04:08 AM
<b>Pakistan plunges deeper into economic pit</b>
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->ISLAMABAD : The free fall of key economic indicators continues unabated as Pak Rupee depreciated by Rs12.4 against US dollar and crossed Rs75, foreign reserves depleted by $3.64 billion and stock market tumbled by 5224 basis points during the tenure of the five month old elected government.
<b>On August 13, 2008, Pakistanâs foreign currency reserves fell below $10 billion and touched $9.66 billion against $13.30 billion on March 31, 2008,</b> registering a fall of $3.64 billion or 27.4 per cent in reserves in the last four and half months period of Gilaniâs government.
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<b>The market capitalisation in terms of dollars stood at $73.70 billion on March 31, 2008, which went down to $41.28 billion on August 13, 2008,</b> registering a fall of $32.4 billion or 44 per cent.<!--QuoteEnd--><!--QuoteEEnd-->
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