Pakistan forex reserves fall by $294 million

| Updated: December 30, 2022 16:57:10

Pakistan forex reserves fall by $294 million

The State Bank of Pakistan (SBP) announced that its foreign exchange reserves had decreased by 294 million US dollars.

During the week ending on Dec. 23, the total foreign exchange reserves of the Pakistani central bank fell to around $5.82 billion, the SBP said in a statement on Thursday evening.

The decrease was "due to external debt repayment," reports Xinhua citing the statement.

Net foreign reserves held by commercial banks came at $5.88 billion, the central bank said.

Total liquid foreign reserves held by the South Asian country stood at about $11.7 billion, according to the SBP.

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