Pakistan' foreign exchange reserves surge by $78 million

The country's total liquid foreign reserves surged by $78 million to $16.768 billion during the last week. According to State Bank of Pakistan, major increase has witnessed in the reserves held by banks, which went up by $116 million to $4.482 billion on February 10, 2012 compared to $4.366 billion on February 3, 2011. However, SBP reserves declined by $38 million to $12.286 billion last week.