Summary State Bank reserves decline to $15.91 billion after foreign loan repayments; total reserves fall as commercial banks see slight increase.
KARACHI (Dunya News) - Foreign debt repayments led to a significant decline in the foreign exchange reserves of the State Bank of Pakistan, which fell by $1.305 billion in one week.
According to the State Bank of Pakistan, its reserves decreased to $15.916 billion after the repayment of external loans.
The central bank said the government received $700 million under multilateral funding, while commercial loans worth $1.7 billion have also been refinanced.
The State Bank added that the refinanced commercial loans will be reflected in the foreign exchange reserves during the next week.
Meanwhile, foreign exchange reserves held by commercial banks increased by $48 million, reaching $5.56 billion.
The latest data showed that Pakistan’s total liquid foreign exchange reserves declined by $1.26 billion in one week, falling from $22.74 billion to $21.48 billion.
