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Currency watch & currency talk. (currency market in Pakistan)

By Kalia, Munaf S.
Publication: Economic Review
Date: Wednesday, April 1 1998

Local Scenario

During the second half of the month of March, 1998 the rupee displayed a firm attitude against the dollar and if this is taken as a barometer. It can be consoled that the monetary conditions are getting improved to some extent. The current account deficit of the country would fall from 6.1% to 5.7% reaching around $3.5 billion which is however $0.2 billion more than the State Bank of Pakistan's revised projection and despite an increase in resident dollar deposits. Pakistan will face a current account funding gap that can only be bridged by recourse to short

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