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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Pakistan's forex reserves rise to a record $17.44 bln Reuters - Friday, February 18 Send IM Story Print KARACHI, Feb 17 - Pakistan's foreign exchange reserves rose to a record $17.44 billion in the week ending Feb. 12, up from $17.31 billion the previous week, the central bank said on Thursday. Reserves held by the State Bank of Pakistan rose to $13.91 billion from $13.76 billion in the week ending Feb. 12, while those held by commercial banks fell to $3.53 billion from $3.55 billion, said the SBP. "Foreign exchange reserves rose to a record because of a rise in remittances and increasing exports," said Syed Wasimuddin, chief spokesman for the central bank. Remittances by overseas Pakistanis were recorded at $6.12 billion during the first seven months of the fiscal year 2010/11, up 17.70 percent from the same period last year, according to data from the State Bank of Pakistan. Pakistan's foreign exchange reserves were boosted last month by more than $633 million after the United States provided military and logistical support to fight Islamist militancy. In May, Pakistan received $1.13 billion -- the fifth tranche of an $11 billion International Monetary Fund bailout programme. (For more Reuters coverage of Pakistan, see: http://www.reuters.com/places/pakistan) ((E-mail: sahar.ahmed@thomsonreuters.com; Reuters Messaging: sahar.ahmed@thomsonreuters.com; Karachi newsroom: +92-21 3568 5192)) (If you have a query or comment about this story, send an email to news.feedback.asia@thomsonreuters.com) Recommend Send IM Story Print Related Articles Berlin eyes EADS power balance as Daimler offers stake Reuters - 40 minutes ago US-BUSINESS Summary Reuters - 40 minutes ago Top global holder Rosneft ups oil reserves Reuters - 48 minutes ago Special report: China flexed its muscles using U.S. Treasuries Reuters - 48 minutes ago Gruzdev in talks to buy upto 46 pct of RGI -sources Reuters - 50 minutes ago News Search Top Stories US price increases hit consumers Russian police raid office of richest woman Huge solar flare jams radio, satellite signals: NASA Thawing permafrost may speed global warming: study William and Kate to tour Canada after wedding More Top Stories » ADVERTISEMENT Most Popular Most Viewed US golfer Woods finds old habits hard to shake Russia loses military satellite: reports US auto sales jump 17 percent in January Dow closes over 12,000 for first time since June 2008 Egypt's Mubarak to step down at September election More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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