KARACHI: The country’s total foreign reserves declined by $137 million during the last week due to external debt servicing.
According to State Bank of Pakistan’s (SBP) weekly report issued on Thursday, the total liquid foreign reserves held by the country stood at $16.052 billion as of Jan 24, 2025 compared to $16.189 billion as of Jan 17, 2025. During the week ended, SBP’s reserves decreased by $76 million to $11.372 billion down from $11.448 billion a week earlier, due to external debt repayments. Net foreign reserves held by commercial banks stood at $4.68 billion, fell $61 million during the last week.
The SBP Governor remains confident that, despite challenges, the central bank’s reserves will trend upward in the second half of this fiscal year, driven by robust home remittance inflows and export growth. During a recent media briefing, he projected that SBP’s foreign exchange reserves would reach the $13 billion mark by the end of June 2025.
Copyright Business Recorder, 2025
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