KARACHI: Foreign exchange reserves rose to $17.21 billion in the week ending October 21 from $17.20 billion the previous week, State Bank said on Thursday.
Reserves held by the State Bank of Pakistan (SBP) fell to $13.44 billion, compared with $13.46 billion in the previous week, while those held by commercial banks rose to $3.77 billion, from $3.74 billion in the previous week, according to the State Bank of Pakistan.
Foreign exchange reserves hit a record $18.31 billion in the week ending July 30 but have eased due to debt repayments.
The reserves were boosted in June by inflows of $411 million, including a $191.9 million loan from the World Bank, and a loan of $196.8 million from the Asian Development Bank.
Higher export proceeds and a record inflow of remittances have helped Pakistan's foreign exchange reserves grow steadily.
According to official data, remittances rose 25 percent to $3.3 billion in the first three months of 2010-11 fiscal year (July-June), compared with $2.65 billion in the same period last year.
However, remittances fell to $890 million in September, compared with $922 million received in September last year.
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