Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $63 million on a weekly basis, clocking in at $9.09 billion as of May 24, data released on Thursday showed.
Total liquid foreign reserves held by the country stood at $14.31 billion. Net foreign reserves held by commercial banks stood at $5.22 billion.
The central bank cited external debt repayments as the reason for the decrease in the foreign currency reserves.
“During the week ended on 24-May-2024, SBP reserves decreased by US$ 63 million to US$ 9,093.7 million due to external debt repayments,” it said.
Last week, Pakistan’s central bank reserves increased by $22 million.
Earlier this month, SBP reserves jumped $1.114 billion to reach above $9 billion after nearly two years.
The increase in the dollar stockpile had come in line with reflection of the last tranche of $1.1 billion from the International Monetary Fund (IMF) for its $3 billion Stand-By Arrangement.
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