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.
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.