Pakistan''s foreign exchange reserves fall by $37.6 million

The country''s foreign reserves plunged by some $37.6 million during the last week. The State Bank of Pakistan on Monday informed that the country''s foreign reserves declined to $16.91 billion during the week ended on November 12, 2010, as against the $16.947 billion a week earlier.
The reserves held by SBP have declined by $49.8 million to $13.127 billion during last week. It stood at $13.177 billion on November 5, 2010. However, reserves held by the State Bank shows an upward trend during the period as banks overall foreign reserves reached $3.782 billion as compared to some $3.77 billion a week earlier, depicting an increase of $12.2 million.