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Friday, April 8, 2011

#pakistan's Forex reserves fall by $319m

Pakistan’s foreign exchange reserves fell by $319 million to $17.637 billion by the week ended on April 2.

The decline in reserves during the week was due to scheduled debt repayment.

Record high foreign exchange reserves of $17.956 billion during last week were mainly contributed by the international Monetary Fund (IMF) loan programme and Coalition Support Fund.


The foreign reserves of the country fell to $6.59 billion during the week ended on November 22, 2008 as the country witnessed economic crisis.

However, it was improved following the loan approval by the IMF under a standby arrangement of $7.6 billion in November 2008, which was further enhanced to $11.3 billion in August 2009.