August 11, 2007	Saturday	Rajab 26, 1428

KARACHI, Aug 10: The country’s foreign exchange reserves fell by a marginal $13 million to $15.779 billion in the week ended August 4, the central bank announced on Friday.

The SBP holdings rose to $13.402 billion, from $13.361 billion a week earlier. But reserves held by commercial banks dipped to $2.377 billion from $2.431 billion, the SBP said.

The foreign exchange reserves of the country had grown steadily over the past few months because of rising foreign investment inflows and higher remittances.

The reserves hit an all-time high of $15.792 billion in the week ended July 28.

According to the central bank data, a record $5.49 billion were remitted by overseas Pakistanis during the last fiscal year, up 19.6 per cent from the previous year.

— Reuters