The State Bank of Pakistan (SBP) reported a decline in the country's liquid foreign reserves by $239 million, bringing the total to $14,207.3 million as of June 21, 2024.
The dip is attributed to external debt repayments, as per the data released on Thursday.
According to the SBP, the liquid foreign reserves held by the central bank stood at $8,895.8 million. Meanwhile, net foreign reserves held by commercial banks were recorded at $5,311.5 million during the same period.
The decline in SBP’s reserves by $239 million, from $9,134.7 million on June 14, 2024, to $8,895.8 million on June 21, 2024, underscores the ongoing financial challenges faced by the country.
The previous week's total liquid foreign reserves were $14,414.6 million, with $9,134.7 million held by the central bank and $5,279.9 million by commercial banks.
This drop in foreign reserves highlights the impact of debt servicing on the nation's financial stability. The SBP's statement emphasized the importance of managing external obligations to maintain economic equilibrium.
