Pakistan forex reserves fall to $10.202 bn

KARACHI: Pakistan's foreign exchange reserves dropped to $10.202 billion in the week ending July 19, from $10.502 billion the previous week, the central bank said. Remittances from Pakistanis abroad rose 5.56 percent to $13.92 billion in the 2012-13 fiscal year, from $13.18 billion during the same period last year. The fiscal year runs from July to June. The monthly average remittances for JulyJune 2013 period come out to $1,160 billion compared to $1,098 billion during the last fiscal year. An amount of $1,164 billion was remitted by overseas Pakistani in June, compared with $1,117 billion in the same month year earlier.