Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased $381 million on a weekly basis, clocking in at $16.945 billion, showed data released on Thursday.

Total liquid foreign reserves held by the country stood at $23.55 billion on November 12, 2021, stated the SBP. Net foreign reserves held by commercial banks stood at $6.605 billion.

The central bank did not provide a reason for the week-on-week decline in reserves.

Pakistan has been looking to build its foreign currency reserves on the back of loans, remittances, and higher exports. However, foreign direct investment continues to be an area of concern for policymakers.