Pakistan’s forex reserves fall by $592 million

| Updated: February 08, 2023 17:14:52

Pakistan’s forex reserves fall by $592 million

The State Bank of Pakistan (SBP) said its foreign exchange reserves had decreased by 592 million US dollars.

During the week ending on Jan. 27, the total foreign exchange reserves of the Pakistani central bank fell to around 3.08 billion US dollars, the SBP said in a statement on Thursday night.

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

Net foreign reserves held by commercial banks came at 5.65 billion US dollars, the central bank said.

Total liquid foreign reserves held by the South Asian country stood at about 8.74 billion US dollars, according to the SBP.

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