KARACHI, Sept 27: The country’s foreign exchange reserves dropped to $14.841 billion in the week ending Sept 21, 2012 from $14.863 billion the previous week, the State Bank said on Thursday.
Reserves held by the State Bank dropped to $10.322 billion from $10.383 billion, while those held by other banks rose to $4.519b from $4.480 billion. Reserves have been reduced on repayment of $397.2 million to International Monetary Fund in August, the central bank said.
Remittances from Pakistanis abroad rose 17.73pc to $13.186 billion in the 2011-12 compared with $11.2b the previous year.—Reuters
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