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Pakistan agrees to depreciate rupee

Amid a policy decision to allow rupee depreciation, Pakistan and an International Mone­tary Fund (IMF) delegation concluded the first round of discussions on the country’s economy.

How Musharraf became a Billionaire?

Now members of the IMF delegation and Pakistan team are taking a two-day break to prepare for the policy-level wrap-up by Dec 13-14.

The State Bank of Pakistan (SBP) would now let the currency exchange rate to adjust to market conditions after many months, rather years, of resisting expectations. The timing of the move was planned for Friday to ensure materialisation of $2.5 billion worth of receipts from two international bonds launched last month.

Analysts Believe US Dollar is Expected to Loose in International Market

This calculated move allowed the currency rate to touch Rs110 to a dollar on Friday before settling down at around Rs107 and did not go beyond official estimates. The two weekend holidays would give a breathing space instead of over-steaming the exchange rate.  

10 December 17

 

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India's River Diversion Plan and South Asia's Waters

More dams are to come, as India’s need to power its economy means it is quietly spending billions on hydropower in Kashmir. The Senate report totted up 33 hydro projects in the border area with Pakistan. The state’s chief minister, Omar Abdullah, says dams will add an extra 3,000MW to the grid in the next eight years alone. Some analysts in Srinagar talk of over 60 dam projects, large and small, now on the books. (This special report has appeared in the Bulletin on Current Affairs - February 2012, you may have to Buy the print edition to read full story)

More in the Edition:

South Asia's Water - a growing rivalry

Indian, Pakistani & Chinese Border Disputes

India's River Diversion Plan: Its impact on Bangladesh

Water Crisis can Trigger nuclear war in South Asia

Reclaimed Water - the Western Experience

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