Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $276 million on a weekly basis, clocking in at $11.45 billion as of January 17, data released on Thursday showed.

Total liquid foreign reserves held by the country stood at $16.19 billion. Net foreign reserves held by commercial banks stood at $4.74 billion.

The central bank attributed external debt repayments to the decrease in the reserves.

“During the week ended on 17-Jan-2025, SBP reserves decreased by US$ 276 million to US$ 11,448.7 million due to external debt repayments,” it said.

Last week, SBP foreign exchange reserves increased by $30 million.