KARACHI - Pakistani exporters have earned Rs 182 billion worth extra money in five months of the current financial year mainly because of the devaluation of rupee. From July-November FY09, the exports showed 12.75 per cent growth in the US dollars, but in Pakistani currency the exports reflected 41.57 per cent growth that swelled the valets of the exporters. From July-November period of this fiscal, the average dollar-rupee exchange rate had been calculated at Rs 76.30 as against Rs 60.40 exchange rate during the corresponding period of previous fiscal. However, in the month of November 2008, the average exchange rate of dollar-rupee stood at 79.92 as compared to 61 rupees in the same month last year. It shows an increase of 19 rupees in the value of the US dollar against the local currency in month-to-month comparison in November. As the textile sector is the leader in exports and exporters of this sector are the major beneficiaries of the depreciation of rupee value. In first five months of this fiscal, the textile exports declined by 2.23 per cent in the US dollar, but in Pakistani currency the exports of this sector marked 23.15 per cent growth merely on account of devaluation. In US dollars the textile exports slightly declined to 4.377 billion dollars (Rs334.36 billion) from July-November FY09, whereas in the same period in FY08 the textile exports amounted to 4.477 billion dollars (Rs271.514 billion). In the month of November 2008 the textile exports fell 7.21 per cent in US dollars over November 2007. Last month the textile exports amounted to 838 million dollars from 903 million dollars in November last year. In local currency the textile exports surged by 21.58 per cent last month and settled at Rs66.60 billion. Second key beneficiaries of devaluation were the rice exporters. In the current financial year the rice exports surged by 70 per cent in the US dollars and 124 per cent in local currency. In US dollars the rice exports rose to one billion dollars (Rs76.106 billion) from July-November FY09 as against 433.94 million dollars (Rs26.334 billion) in July-November FY08. Interesting to note is that for the first time the exports of Pakistani rice have surged to above one billion dollars (1000.823 million dollars) in first five months of a financial year. Basmati rice fetched 527 million dollars while the non-basmati rice attracted 473 million dollars through exports in this fiscal. In FY08 the basmati rice exports amounted to only 286 million dollars and non-basmati rice exports stood at 147 million dollars. Exporters said that the prices of rice remained very high in the international markets during the past few months that boosted the overall exports. For example, the basmati rice exports fell by 4 per cent in quantity from July-Nov FY09, but in rupees and US dollars their exports increased by 129 per cent and 84 per cent, respectively. Similarly, non-basmati rice exports increased by 43 per cent in quantity in this fiscal, but in Pakistani currency and the US dollars their exports showed 305 per cent and 221 per cent growth, respectively. Exporters, however, pointed out that the prices of commodities have declined substantially in the global markets from November this year and this factor would certainly erode the export earnings in remaining period of this fiscal.