The foreign exchange reserves held by the central bank decreased 6.6percent on a weekly basis, according to data released by the State Bank ofPakistan (SBP) on Thursday.
On August 5, the foreign currency reserves held by the SBP were recorded at$7.830 billion, down $555 million compared to $8.385 on July 29 due toexternal debt payments.
The last time SBP reserves went below the $8 billion level was in October2019.
Overall liquid foreign currency reserves held by the country, including netreserves held by banks other than the SBP, stood at $13.561 billion. Netreserves held by banks stood at $5.730 billion, registering a decrease of$93 million.
Read Top Stories
In a statement, the central bank said that debt repayments are expected tomoderate during the next three weeks of this month.
Adding that, “around three-fourth of debt servicing for the month of Augustwas concentrated during the first week.”
