The reserves come down due to external debt repayments
Published 10 months ago on May 31st 2024, 1:13 am
By Web Desk
Karachi: Foreign exchange reserves held by the State Bank of Pakistan (SBP) Thursday plunged by $63 million on a weekly basis, clocking in at $9.09 billion as of May 24.
Official data released by the central bank showed that total liquid foreign reserves held by the country stood at $14.31bn, while net foreign reserves held by commercial banks stood at $5.22bn.
The central bank cited external debt repayments as the reason for the decrease in the foreign currency reserves.
“During the week ended on 24-May-2024, SBP reserves decreased by US$ 63 million to US$ 9,093.7 million due to external debt repayments,” it said.
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