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.

More From This Section

Over 7pc growth in export of textile, clothing

The increase was due to the hike in export of raw cotton and low value-added products.

Round five of 3G spectrum licenses auction ends without change

The fifth round of auction concluded at $902.82 million without any change from the end of the previous round.

Power tariff reduced for one month

Nepra approved a Rs1.02 per unit reduction in electricity tariff for next month due to a decline in fuel prices.

Flour crisis looming as millers go on strike

Flour mills in Karachi went on a strike on Tuesday for an indefinite period over harassment.


Comments are closed.
Explore: Indian elections 2014
Explore: Indian elections 2014
How much do you know about Indian Elections?
How much do you know about Indian Elections?
Poll
From The Newspaper
Tweets