Smart Economy

Asia

Pakistan's forex reserves fall by $592 million

 Published: 05:38, 5 February 2023

Pakistan's forex reserves fall by $592 million

The State Bank of Pakistan (SBP) said its foreign exchange reserves had decreased by $592 million.

During the week ending on January 27, the total forex reserves of the Pakistani central bank fell to around $3.08 billion, the SBP said in a statement on Thursday night.

The decrease was "due to external debt repayment," reports Xinhua citing the statement.

Net foreign reserves held by commercial banks came at $5.65 billion, the central bank said.

Total liquid foreign reserves held by the South Asian country stood at about $8.74 billion, according to the SBP.