January 04, 2008	Friday	Zilhaj 24, 1428

KARACHI, Jan 3: Pakistan’s foreign exchange reserves rose by $14 million to $15.74 billion in the week that ended on Dec 29, the central bank said on Thursday.

Reserves held by the State Bank of Pakistan rose to $13.50 billion from $13.36 billion a week earlier, while those held by commercial banks were unchanged at $2.24 billion, it said.

Pakistan’s foreign reserves hit an all-time high of $16.39 billion in the week that ended on Nov 10. But they fell because of outflows from the stock market after President Pervez Musharraf imposed emergency rule on Nov 3.

Emergency rule was lifted on Dec 15 but analysts said foreign reserves might come under further pressure due to the tense political situation after the assassination of opposition leader Benazir Bhutto on Dec. 27. —Reuters