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Foreign loan repayment reduces the State Bank of Pakistan currency reserves by $415 million

KARACHI: The State Bank of Pakistan (SBP) revealed on Thursday that external debt repayment lowered the central bank’s official foreign currency reserves by $415 million in the week ending December 17, 2021.

The central bank’s foreign exchange reserves fell to $18.153 billion in the week ending December 17, 2021, from $18.568 billion the previous week. The central bank stated that the decrease in reserves was mostly attributable to the repayment of external debt.

Also read: The SBP’s reserves have shrunk by $90 million

The overall foreign exchange reserves of the country fell $395 million to $24.633 billion by the week ended December 17, 2021, compared with $25.028 billion a week ago.

The foreign exchange reserves held by commercial banks; however, increased $19 million to $6.479 billion by the week ended December 17, 2021, compared with $6.460 billion a week ago.

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