How to reduce current consumption in msp430 based design?

Hi all,

I'm using msp430f5438 in my design. For low current consumption of the mcu, i'm using LPM0 mode. The design concept is like this: every 1 second the mcu wakes up, it turns on other deices, makes then sleep again and then itself goes to sleep. My question is during sleep time does flasj memory remain active or not?(does it draw current or not?).  my another question is: for mcu active-standby mode cycle, i'm using SMCLK (16MHz), Can I use ACLK (32KHz) for it?

thanx in advance.