—File Photo

KARACHI: Pakistan’s foreign exchange reserves dropped to $14.319 billion in the week ending Oct 12, from $14.406 billion in the previous week, the central bank said on Friday.

Pakistan’s reserves have been reduced by debt repayments in recent months, including a $109 million repayment to the International Monetary Fund (IMF).

Remittances from Pakistanis abroad rose 9.16 per cent to $3.6billion in the first quarter, July to September, of the 2012/13  fiscal year, compared with $3.297 billion in the same period  last year.