Pak foreign reserves reaches $17.38 billion

Pakistan foreign reserves reached 17.38 billion dollars on the end of January 2011, according to a report released by State Bank of Pakistan.The reserves up from $17.30 billion from the previous week. Reserves held by the State Bank of Pakistan (SBP) rose to $13.85 billion from $13.74 billion in the week ending Jan. 29, while those held by commercial banks fell to $3.53 billion from $3.56 billion, the report further said. Pakistans foreign exchange reserves were boosted last month by more than $633 million from the US for providing military and logistical support to Pakistan.