Pakistan's foreign reserves have grown steadily on the back of record remittances and export proceeds. - File photo

KARACHI: Pakistan's foreign exchange reserves fell to $17.79 billion in the week ending  Sept. 10, from $18.06 billion in the previous week, the central bank said on Thursday.

Reserves held by the State Bank of Pakistan (SBP) fell to $14.34 billion from $14.60 billion, while those held by commercial banks also fell slightly to $3.45 billion from $3.46 billion, according to the State Bank of Pakistan.

Foreign exchange reserves hit a record $18.31 billion in the week ending July 30 but have eased due to scheduled debt repayments.  The reserves were boosted in June by inflows of $411 million, including a $191.9 million loan from the World Bank, and another loan of $196.8 million from the Asian Development Bank.

Higher export proceeds and a record inflow of remittances have helped Pakistan's forex reserves grow steadily.

According to official data, remittances rose 40.45 percent to $1.31 billion in August, compared with $933.06 million in the same period last year.

Opinion

Let women be, control the man
Updated 11 Apr 2021

Let women be, control the man

Men need to be educated and then read the riot act. The enforcement of the law must be merciless in such cases.
Twixt torch & tray
11 Apr 2021

Twixt torch & tray

Some may say that the lawyers’ indignation is not without merit.
Behaviour bond
10 Apr 2021

Behaviour bond

States have turned the imitation of repressive laws into an art form...

Editorial

11 Apr 2021

Dissension within PTI

WITH the dust from the PDM’s implosion still not fully settled, the PTI is now faced with growing dissension from...
11 Apr 2021

Power to arrest

A SUPREME Court verdict announced on Thursday spelled out what might be considered a self-evident truth in any...
11 Apr 2021

Unequal vaccine distribution

IT is in times of crisis that we often see the best — or worst — of humanity. In this regard, the pandemic has...
10 Apr 2021

Greater tax burden

THE FBR’s tax target of Rs6tr for the next year under the IMF-mandated fiscal adjustment policies will increase ...
UK travel ban
Updated 10 Apr 2021

UK travel ban

Pakistan continued to allow passengers to arrive without quarantine requirements.
10 Apr 2021

IS in Mozambique

IT was not too long ago when the dreaded shock troops of the self-declared Islamic State group were rampaging ...