KARACHI: The decline of State Bank of Pakistan’s (SBP) foreign exchange reserves continued for the third week in a row on Thursday, sinking by 3.83%.
On October 7, SBP’s foreign currencies reserves were recorded at $7,596.9 million, down $303 million compared with $7,899.8 on September 30, SBP latest data showed.
Overall liquid foreign currency reserves of Pakistan, including net reserves held by private banks, stood at $13,246.8 million. Net reserves held by banks amounted to $5,649.9 million.
SBP cited external debt repayment, including interest payments on Eurobonds and repayment of a commercial loan, as a major reason behind the decline.
