Forex reserves up by $46 million

The country's total liquid foreign reserves have surged by $46.3 million to $16.441 billion during the last week. According to the State Bank of Pakistan, increase has witnessed in the reserves held by the central bank, which gone up by $96.5 million to $11.767 billion as on March 23, 2012 compared to $11.671 billion as on March 16, 2011. However, reserves held by banks have decline by $50.2 million to $4.674 billion during the last week.