Pakistan's foreign currency reserves dropped to $10,543.5 million in the week ending July 5, 2013 from $11,007.0 million the previous week, the central bank said.
The forex reserves of the country witnessed continues decreased due to large debt repayment International Monetary Fund (IMF), World Bank (WB) and rising trade deficit during last months.
Data issued by State Bank of Pakistan show that business week ended on July 5, total foreign currency reserves down $ 463.5 and stood at $ 10,543.5.
Foreign currency reserves held by central bank are $ 5,546.5 million and held by commercial banks are $ 4,997.0 million.
Pakistan recently complete discussion with IMF to for the borrowing new loan worth of $5 billion. IMF in its September board meeting will consider this. Pakistan's finance minister Ishaq Dar said Pakistan request IMF to increased loan volume up to $7 billion.
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