The State Bank of Pakistan.—File Photo

KARACHI: Pakistan’s foreign exchange reserves dropped to $14.841 billion in the week ending Sept 21, from $14.863 billion the previous week, the central bank said on Thursday.

According to a press release issued by State Bank of Pakistan (SBP) on Thursday, foreign reserves held by the State Bank of Pakistan equal $10,321.8 million while net foreign reserves held by banks (other than SBP) stood at $4,519.7 million.

Pakistan’s reserves have been reduced by debt repayments in August on a $397.2 million loan from the International Monetary Fund, the central bank said on Thursday.

Remittances from Pakistanis abroad rose 17.73 per cent to $13.186 billion in the 2011/12 fiscal year, which ended on June 30, compared with $11.2 billion the previous year.

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