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Written by: Staff

KARACHI, Apr 8 (Reuters) Pakistan's foreign exchange reserves rose by $1.177 billion to $12.484 billion in the week ending on April 01, the central bank said on Saturday.

Reserves held by the State Bank of Pakistan increased to $10.218 billion from $9.062 billion a week earlier, while those held by commercial banks rose to $2.266 billion from $2.245 billion, the State Bank of Pakistan said in a statement.

A senior official at the central bank said inflows by the sale of $800 million in 10- and 30-year global bonds and $500 million as part of payment from the sale of a 26 percent stake in Pakistan Telecommunication Co last week supported the reserves.

Pakistan's reserves hit an all-time high of $13 billion in the week ending April 30, 2005, but have subsequently declined because of routine debt payments and a rising import bill.


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