ISLAMABAD: Pakistan's foreign exchange reserves fell to $14.96 billion in the week ending June 22 from $15.05 billion the previous week, the central bank said on Thursday.

Reserves held by the State Bank of Pakistan fell to $10.54 billion from $10.68 billion, while those held by commercial banks rose slightly to nearly $4.43 billion from $4.37 billion.

Foreign exchange reserves hit a record $18.31 billion in July 2011, boosted by a $191.9 million loan from the World Bank and a $196.8 million loan from the Asian Development Bank.

Higher exports and record remittances have also supported Pakistan's reserves.

Remittances from Pakistanis abroad rose 19.5 per cent to $12.07 billion in the first 11 months of the 2011/12 fiscal year, compared with $10.1 billion in the same period last year.

In May, remittances totalled $1.19 billion.

Pakistan's reserves have been reduced by debt repayments of $2.53 billion in the current fiscal year.