KARACHI: The liquid foreign exchange reserves of Pakistan decreased by $1.65 billion (-6.35 percent) on a weekly basis to $24,327.4 million from $25.969 billion by the week ended October 15, 2021.
According to the data released by the State Bank of Pakistan, the foreign exchange reserves held by the central bank fell 8.6 percent on a weekly basis. On October 15, the foreign currency reserves held by the SBP were recorded at $17,492.2 million, showing a decline of $1.65 billion when compared to $19,138.4 million on October 8.
According to the central bank, the decrease came on the back of external debt repayment that included repayment of $1 billion against Pakistan International Sukuk.
Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $24,327.4 million. Net reserves held by banks amounted to $6,835.2 million.
Earlier in the week ended on August 27, the foreign exchange reserves held by the central bank soared to an all-time high of $20.15 billion after Pakistan received a general allocation of Special Drawing Rights (SDRs) worth $2,751.8 million from the International Monetary Fund (IMF) on August 24.