Pakistan foreign exchange reserves register decline
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Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $59 million on a weekly basis, clocking in at $7.64 billion as of September 22, data released on Thursday showed.
Total liquid foreign reserves held by the country stood at $13.16 billion. Net foreign reserves held by commercial banks stood at $5.52 billion.
The central bank cited debt repayments as the reason for decrease in the reserves.
“During the week ended on 22-Sep-2023, SBP’s reserves decreased by US$ 59 million to US$ 7,636.7 million on account of debt repayments,” it said.
Last week, after falling for four straight weeks, Pakistan’s central bank reserves link increased by $56 million.
Before that, the SBP reserves saw cumulative decline of $416 million in four weeks.
