The State Bank of Pakistan (SBP) has reported another weekly decline in its foreign exchange reserves, according to data released on Thursday.

As of January 24, SBP's foreign currency reserves stood at $11.372 billion, down $76 million from the previous week's figure of $11.449 billion. The central bank attributed the decline to external debt repayments.

Net reserves held by commercial banks fell to $4.68 billion, a decrease of $62 million from the prior week's $4.741 billion.

Overall, the country's total liquid foreign currency reserves, including those held by banks other than SBP, amounted to $16.052 billion, reflecting a drop of $137 million over the previous week.

It's important to note that the central bank's reserves had already seen a significant drop of $276 million last week. The reserves have been under pressure in recent weeks, particularly after surpassing the $12 billion mark in late November of last year.
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