Pakistan’s Foreign Exchange Reserves Fall by $150 Million in a Week

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by over $150 million on a weekly basis according to data issued by the central bank on Thursday. According to the latest data released by the SBP, on March 7, the foreign currency reserves held by the SBP were recorded at $11.098 billion, down $152 million compared to $11.250 billion on February 28. In a brief statement, the central bank said the decrease in reserves was due to external debt repayments. Total liquid forex reserves held by the country including net reserves held by banks other than the SBP, stood at $15.929 billion, up 55 million over the previous week. The net reserves held by banks were recorded at $4.831 billion, registering an increase of $206 million during the week.