Islamabad, Aug 13 - Currency worth Rs.1.2231 trillion ($15 billion) is circulating in Pakistan in the form of 4.1588 billion notes, the National Assembly, the lower house of parliament, was informed Thursday.

State Bank of Pakistan and commercial banks had foreign exchange reserves of $11.68 billion as on Aug 4, Finance Minister Shaukat Tareen said in a written reply.

During fiscal 2008-09 that ended June 30, 3.486 million overseas Pakistani remitted $7.811 billion dollars, 21.1 percent higher than the previous fiscal.

Replying to another question, he said Rs.443 billion was collected as income tax and

Rs.451.3 billion as sales tax during fiscal 2008-09.