Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by another $21 million on a weekly basis, clocking in at $7.615 billion as of September 28, data released on Thursday showed.
Total liquid foreign reserves held by the country stood at $13.03 billion. Net foreign reserves held by commercial banks stood at $5.415 billion.
The central bank did not specify a reason for the decrease in reserves.
“During the week ended on 28-Sep-2023, SBP’s reserves decreased by US$ 21 million to US$ 7,615.4 million,” it said.
Last week, Pakistan’s central bank reserves had decreased by $59 million.
In July this year, reserves held by the SBP got a boost as Pakistan received the first tranche of about $1.2 billion from the International Monetary Fund (IMF) after its lender approved a new $3-billion Stand-By Arrangement. It also got inflows from Saudi Arabia and the UAE.
However, the central bank reserves have been under pressure due to debt repayments, rise in import payments after ease in restrictions, and lack of fresh inflows.
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