Pakistan’s forex reserves fall to $14.319 billion
October 19, 2012 by Reuters
—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.
