Pak forex reserves fall to $10.91 billion

LAHORE: Pakistan’s foreign reserves fell by $44 million to $10.91 billion in the week that ended on June 14, said the central bank on Thursday.Reserves held by the State Bank of Pakistan fell by $12 million to $8.267 billion, while those held by commercial banks rose to $2.643 billion from $2.567 billion.Pakistan’s foreign exchange reserves hit an all-time high of $16.486 billion on October 31, 2007, but have fallen since then because of political uncertainty, beginning when President Pervez Musharraf imposed six weeks of emergency rule on Nov 3.