Market-based exchange rate helped in bringing stability in economy: Official

According to officials, the Market-based exchange rate has helped in bringing stability to the economy by eliminating unnatural fluctuations in the rupee.

As of the fifth of this month, the rupee touched the highest value of 152.58 during the current year with minimal intervention gaining a 9.2 percent increase against the dollar.

The officials said the Foreign Exchange Reserves of the State Bank of Pakistan have increased to around thirteen billion dollars.

Under the Roshan Digital Account, one hundred thousand accounts have been opened by overseas Pakistanis in over one hundred countries. The deposit amount is reported to be 671 million dollars.

The officials are confident that the foreign remittances are likely to reach 27.28 billion dollars during the current fiscal year. The share of remittances in the GDP has gone up to ten percent.

Radio Pakistan