KARACHI: Pakistan received the third installment of $550 million from the International Monetary Fund (IMF) on Thursday, the State Bank said.

The SBP also said that the foreign exchange reserves during the week ending on March 21 dropped to $9.14bn from $9.64bn on March 14. But with the inflow of $550m from IMF the reserves have been again increased to $9.6bn.

During the week ending on March 21, the decrease in the reserves was due to external debt servicing of $248m, inclusive of $57m repayment to IMF, and other official flows.