KARACHI: Pakistan's foreign exchange reserves fell to $14.12 billion in the week that ended on Nov.14 from $14.27 billion the previous week, the central bank said on Thursday.
Reserves held by the State Bank of Pakistan were $10.49 billion, down from $10.70 billion a week earlier, while those held by commercial banks rose to $3.63 billion from $3.57 billion the previous week, the central bank said in a statement.
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.
An International Monetary Fund (IMF) emergency loan package of $7.6 billion agreed in November helped avert a balance of payments crisis and shore up reserves.
The IMF, which increased the loan to $11.3 billion in July, has disbursed more than $5 billion. -Reuters
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