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Updated 22 Dec, 2010 06:38am

Forex reserves rise to $11.17bn

The State Bank of Pakistan's reserves rose to $7.80 billion from $6.63 billion a week earlier while reserves held by commercial banks fell to $3.37 billion from $3.46 billion, the bank said.
Pakistan has recently received $500 million from the World Bank and $848 million from the International Monetary Fund, which is reflected in the data this week.
Foreign reserves hit a record high of $16.5 billion in October 2007 but fell to $6.6 billion in November, largely because of a soaring import bill.
Pakistan agreed in November to an IMF emergency loan package of $7.6 billion to avert a balance of payments crisis. week.

Copyright Reuters, 2009

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