Updated :
Thursday June 7 , 2012 6:55:54 PM
Pakistan's
foreign exchange reserves fell to $15.54 billion in the week ending May
25 from $16.01 billion the previous week, the central bank said on
Thursday.
Reserves held by the State Bank of Pakistan fell to $11.24 billion from $11.70 billion and those held by commercial banks rose to $4.29 billion from $4.31 billion.
Foreign exchange reserves hit a record $18.31 billion in July last year, boosted by a $191.9 million loan from the World Bank and a $196.8 million loan from the Asian Development Bank.
Higher exports and record remittances have also supported Pakistan's reserves.
Remittances from Pakistanis overseas rose 20.2 percent to $10.88 billion in the first 10 months of the 2011/12 fiscal year, compared with $9.05 billion in the same period last year.
In April, remittances totalled $1.141 billion.
Pakistan's reserves have been drained by debt repayments of $2.53 billion in the current fiscal year.
Reserves held by the State Bank of Pakistan fell to $11.24 billion from $11.70 billion and those held by commercial banks rose to $4.29 billion from $4.31 billion.
Foreign exchange reserves hit a record $18.31 billion in July last year, boosted by a $191.9 million loan from the World Bank and a $196.8 million loan from the Asian Development Bank.
Higher exports and record remittances have also supported Pakistan's reserves.
Remittances from Pakistanis overseas rose 20.2 percent to $10.88 billion in the first 10 months of the 2011/12 fiscal year, compared with $9.05 billion in the same period last year.
In April, remittances totalled $1.141 billion.
Pakistan's reserves have been drained by debt repayments of $2.53 billion in the current fiscal year.
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