The State Bank of Pakistan (SBP) has reported a significant decline in its foreign exchange reserves, with a drop of over $250 million in just one week, according to data released by the central bank on Thursday.

As of February 7, the SBP's foreign currency reserves stood at $11.167 billion, down $252 million from the $11.418 billion recorded on January 31. The reserves had previously crossed the $12 billion mark towards the end of November 2024, but have been decreasing in recent weeks due to external debt repayments.

The overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, totaled $15.863 billion, a decrease of $181 million from the previous week. However, net reserves held by banks increased by $70 million, reaching $4.696 billion during the same period.

Keep an eye on this space for more updates on the economic situation and its impact on the nation.
Image by Pro Pakistani