The State Bank of Pakistan’s (SBP) foreign exchange reserves fell by $54 million on a weekly basis, according to data released by the central bank on Thursday.
SBP recorded $8.216 billion
On January 26, the foreign currency reserves held by the SBP were recorded at $8.216 billion, down $54 million compared to $8.270 billion on January 19.
In a brief statement, the central bank explained that the decrease in reserves was due to external debt repayments.
Overall liquid foreign currency
Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $13.262 billion, a $79 million decrease from the previous week.
Banks’ net reserves stood at $5.046 billion, a $25 million decrease over the week. Banks’ net reserves stood at $5.046 billion, a $25 million decrease over the week.
Pakistan recently requested that China roll over a $2 billion debt for one year. The deposit for the $2 billion loan from China is scheduled to be completed on March 23, 2024.
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