KARACHI: Pakistan’s foreign exchange reserves dropped to $13.814 billion in the week ending Nov 16, from $13.845 billion the previous week, the central bank said.

Remittances from Pakistanis abroad rose 15.04 per cent to $4.964 billion in the first four months, July to October, of the 2012/13 fiscal year, from $4.315 billion in the same period last year.

In October, remittances totalled $1.365 billion.

The monthly average remittances for July-October 2012/13 period comes out to $1.241 billion.