SBP-held foreign exchange reserves decrease $173mn, now stand at $8.04bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $173 million on a weekly basis, clocking in at $8.04 billion as of February 2, data released on Thursday showed.

Total liquid foreign reserves held by the country stood at $13.09 billion. Net foreign reserves held by commercial banks stood at $5.05 billion.

The SBP attributed the decrease in the reserves to debt repayments.

“During the week ended on 2-Feb-2024, SBP’s reserves decreased by US$ 173 million to US$ 8,044.0 million due to debt repayments,” it said.

Last week, Pakistan’s central bank reserves had decreased by $54 million.