Decline in Pakistan’s Foreign Exchange Reserves Continues
The State Bank of Pakistan (SBP) reported another decline in foreign exchange reserves on a weekly basis, according to data released on Thursday, January 24.
As per the latest figures, the SBP’s foreign currency reserves stood at $11.372 billion, reflecting a decrease of $76 million from $11.449 billion recorded on January 17. The decline is attributed to external debt repayments, as stated by the central bank.
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Meanwhile, net reserves held by commercial banks fell to $4.68 billion, a drop of $62 million compared to $4.741 billion last week.
The total liquid foreign currency reserves of the country, which include SBP reserves and net commercial bank reserves, amounted to $16.052 billion, marking a decline of $137 million from the previous week.
It is important to note that in the previous week, the SBP’s reserves had declined by $276 million. The reserves have been under pressure in recent weeks, despite surpassing the $12 billion mark in late November 2024.
