Forex reserves fall to $14.43bn

Pakistan's foreign exchange reserves fell to $14.43 billion in the week that ended on Oct. 24 compared with $14.48 billion the previous week, the State Bank of Pakistan (SBP) said on Thursday.Reserves held by the SBP were $10.86 billion, compared with $10.91 billion a week earlier, while those held by commercial banks were the same at $3.57 billion, said SBP spokesman Syed Wasimuddin.Foreign reserves hit a record high of $16.5 billion in October 2007, but fell steadily to $6.6 billion by November last year -- largely because of a soaring import bill.