KARACHI - Pakistan’s foreign exchange reserves dropped to $14.841 billion in the week ending Sept 21, from $14.863 billion 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, 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 on June 30, compared with $11.2 billion the previous year.