ISLAMABAD - Pakistan’s foreign exchange reserves fall to $16.0058b in the week ending May 25, from 16.311b the previous week, the central bank said on Thursday.
Reserves hit a record $18.31b in July last year, boosted by a $191.9m loan from the WB and a $196.8m loan from the ADB.
Higher exports and record remittances have also supported Pakistan’s reserves.
Remittances from Pakistanis overseas rose 20.23 percent to $10.877 billion in the first 10 months of the 2011/12 fiscal year, compared with $9.046 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. (Reporting by Rebecca Conway and Qasim Nauman; Editing by John Stonestreet)