ISLAMABAD: The total liquid foreign reserves of Pakistan slide down to US$ 13,161.8 million while reserves held by the central bank stood at $ 7,636.7 million in the last week due to the debt repayment, as reported by the State Bank of Pakistan (SBP), in a statement issued here on Thursday.
According to the SBP statement, the central bank’s reserves witnessed a decrease by 59 million to settle US$ 7,636.7 million on account of debt repayments during the week ended on September 22, 2023.
Meanwhile, the total foreign reserves held by commercial banks in the country stood at $ 5,525.1 million.
In the earlier week ending on September 15, 2023, the total foreign reserve in the country were recorded as US$ 13.186 billion.
Among them, foreign reserves held by the central bank were at $ 7.695 billion whereas the net foreign reserves held by commercial banks were $ 5.491 billion.
Decrease in Foreign Reserves
The recent decrease in foreign reserves occurred due to deft repayment in the context of the bilateral and multilateral agreement. However, the removal of the ban on imports also affects the flow of dollars outside resulting in the decline of the reserves.
The government is expected an increase of the foreign reserves before December with the hope of funds from the IMF and friendly countries.
