SBP-held foreign exchange reserves decrease $228mn, now stand at $11.85bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $228 million on a weekly basis, clocking in at $11.85 billion as of December 20, data released on Thursday showed.

Total liquid foreign reserves held by the country stood at $16.37 billion. Net foreign reserves held by commercial banks stood at $4.52 billion.

The central bank said the decline in the forex reserves was driven by external debt repayments.

“During the week ended on 20-Dec-2024, SBP reserves decreased by US$ 228 million to US$ 11,853.5 million due to external debt repayments,” it said.

Last week, SBP foreign exchange reserves increased by $31 million.