State Bank of Pakistan (SBP) has reported that foreign reserves of Pakistan have reduced from $8.82 billion to $8.13 billion in the week ended on September 27, 2008. While in October 2007, foreign reserves touched high limit of $16.5 billion.

State Bank’s own reserves have also decreased from $5 billion to $4.68 billion. Asian Development Bank has given loan of $500 million to support its current economic crises but its impact will be reflected in the figure of coming week.

Experts say that continuous reduction in foreign reserves is due to heavy import bills of oil are being paid and an outflow of capital from country due to fear of terrorism.