Updated on
Summary Pakistans foreign exchange reserves reached $14.909 billion during the week ended on July 6.
According the State Bank of Pakistan, reserves held by the central bank fell to $10.496 billion from $10.802 billion, while those held by commercial banks dipped to $4.413 billion from $4.434 billion.Foreign exchange reserves hit a record $18.31 billion in July 2011, boosted by a $191.9 million loan from the World Bank and a $196.8 million loan from the Asian Development Bank.Remittances from Pakistanis abroad rose 17.73 per cent to $13.186 billion in the 2011/12 fiscal year, which ended June 30, compared with $11.2 billion the previous year.
