Reserves held by State Bank of Pakistan (SBP) reached a high of $11.062 billion, up from $10.998 billion a week earlier, however those held by commercial banks fell to $2.317 billion from $2.345 billion, the central bank said in a statement.
"We have seen robust foreign exchange inflows in recent months due to higher remittances from Pakistanis working abroad, and also because of a substantial rise in foreign investment," said chief central bank spokesman Syed Wasimuddin.
Foreign direct investment rose more than 69 percent to $2.1 billion in the first seven months of the 200607 fiscal year (July-June), led by inflows into the financial, communications and energy sectors, official figures show.
Inflows from foreign portfolio investment during July-January were $697.4 million, up from $400.5 million in the corresponding period last year.
During the period, remittances sent by Pakistanis abroad were recorded at $2.96 billion, up from $2.44 billion in the year-ago period.
"Our reserves are now sufficient for six-and-a-half months of imports," said Wasimuddin.

Copyright Reuters, 2007