LAHORE (National Times) – State Bank of Pakistan (SBP) Governor Dr Reza Baqir said on Friday that with the news of Saudi aid, our exchange rate has come down from Rs 175 to Rs 170 while the exporters have started devaluing the dollar after the exchange rate has come down.

Speaking exclusively in Dunya News program “Dunya with Kamran Khan Kay Sath” after the SBP increased the basic interest rate by 1.50 percent, he said that steps are being taken to reduce inflation.

The SBP Governor said that our growth will be 5 percent this year, adding that our economic growth is accelerating, this year the economic growth target has been set at 5%.

“Inflation is accelerating, our target is steady growth, adding that inflation and current account deficit have increased in the last two months, it was higher than our previous expectations,” he added.