Forex reserves increase to $11.77 billion

KARACHI: The country’s foreign exchange reserves increased to $11.770 billion on the week ending on June 20, 2009 as compared with $11.643 billion last week, data released by the State Bank of Pakistan showed on Thursday. The total reserves witnessed an increase of $127 million during the week. The reserves held by the State Bank of Pakistan witnessed an increase of $151 million as the reserve reached to $8.452 billion, as compared to $8.301 billion last week. Similarly, the reserves held by the banks other than SBP recorded a decline of $25 million to reach $3.317 billion as compared to $3.342 last week. staff report. link....