Forex reserves increase to $14.828 billion




KARACHI  - Pakistan’s foreign exchange reserves rose to $14.828 billion in the week ending Sept 7 from $14.821 billion in the previous week, the State Bank said on Thursday.Pakistan’s reserves have been reduced by debt repayments in August on a $397.2 million loan from the International Monetary Fund (IMF), the central bank said on Thursday. Remittances from Pakistanis abroad rose 17.73 percent to $13.186 billion in the 2011/12 fiscal year, which ended June 30, compared with $11.2 billion the previous year.

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