The State Bank of Pakistan (SBP) announced that its foreign exchange reserves fell by 152 million in the week ending March 7, dropping to 11.1 billion. According to the central bank’s latest data, this marks the lowest level in five years.
The decline was attributed to the repayment of foreign loans.
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The SBP’s reserves now stand at 11.98 billion,while thecountry’s total foreign exchange reserves are reported at 15.93 billion.
Commercial banks hold $4.83 billion of the total reserves.
Despite the recent drop, Pakistan’s foreign exchange reserves had seen a slight increase of $27 million the previous week.
The central bank has not provided further details on measures to stabilize the reserves amid ongoing economic challenges.
