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Updated 21 Dec, 2010 11:08am

Forex reserves fall to $9.38bn

The State Bank of Pakistan said its reserves fell to $6.01 billion from $6.26 billion previously, while those held by commercial banks rose to $3.37 billion from $3.30 billion.
Foreign reserves hit a record high of $16.5 billion in October last year but have since been depleted by high payments for oil imports, and foreign investors withdrawing money because of the country's political uncertainty.
The rupee closed firmer at 75.9076.05 to the dollar on Thursday compared with Wednesday's close of 76.0010, data from Reuters showed.
But traders said the long-term outlook for the currency was still uncertain.
The rupee, which has lost about 23 percent of its value against the dollar this year, hit a record low of 77.15 on Aug. 22.

Copyright Reuters, 2008

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