SBP Reserves Fall by $172 Million in One Week

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $172 million on a weekly basis according to data issued by the central bank on Thursday. On February 2, the foreign currency reserves held by the SBP were recorded at $8.045 billion, down $172 million compared to $8.217 billion on January 26. In a short statement, the central bank said the decrease in reserves was due to external debt repayments. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $13.098 billion, down $164 million over the previous week. The net reserves held by banks stood at $5.054 billion, registering an increase of $8 million during the week.