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Pakistan c.bank expects forex inflows of $3.5 bln

Fri May 9, 2008 7:09pm IST
 
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KARACHI, May 9 (Reuters) - Pakistan should expect foreign inflows of up to $3.5 billion in the short to medium term which would help stabilize the rupee, said the central bank chief said on Friday after the currency fell 3.5 percent.

"We aren't in a crisis like situation... several measures are in place to remove macro-economic imbalances," State Bank of Pakistan Governor Shamshad Akhtar said in a statement.

In a meeting with the heads of commercial banks, the governor assured them there would be no reversal of foreign exchange liberalization measures, and said the currency market's behaviour "is totally out of line".

(Reporting by Sahar Ahmed; editing by Simon Cameron-Moore)

 
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