Pakistani foreign exchange reserves drop 3.3 percent

Pakistan’s reserves have been reduced by debt repayments in recent months, including a $109 million repayment to the  International Monetary Fund (IMF).Remittances from Pakistanis abroad rose 9.16 per cent to $3.6 billion in the first quarter, July to September of the 2012/13 fiscal year, compared with $3.297 billion in the same period last year.