Pakistan’s total liquid foreign exchange reserves declined by $228 million to $22.44 billion after the country made external debt repayments, the State Bank of Pakistan said.
According to an SBP spokesperson, the central bank’s reserves fell by $229 million during the week to $17.02 billion, mainly because of payments made on external debt obligations.
Meanwhile, foreign exchange reserves held by commercial banks decreased by $1 million to $5.41 billion.
As a result, the country’s combined foreign exchange reserves stood at $22.44 billion.
The latest decline reflects the impact of external debt servicing on the central bank’s reserve position. Foreign exchange reserves are closely monitored because they affect the country’s ability to meet import payments, service external liabilities and maintain stability in the currency market.
