SBP’s forex reserves fall $415 million on foreign debt repayment

KARACHI: The official foreign exchange reserves of the State Bank of Pakistan (SBP) have reduced $415 million by the week ended December 17, 2021 due to external debt repayment, the central bank reported on Thursday.

The foreign exchange reserves of the central bank reduced to $18.153 billion by the week ended December 17, 2021, compared with $18.568 billion a week ago.

The central bank said its reserves had fallen mainly due to external debt repayment.

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.