Karachi: The State Bank of Pakistan (SBP) has released a weekly report on foreign exchange reserves, according to which the reserves recorded a significant decline in a week. The weekly report received by ary news from a State Bank spokesperson has included data up to September 17. According to the State Bank spokesman, $479 million was paid off in external debt over a week, leading to a significant decline in foreign exchange reserves.
Foreign exchange reserves fell from $20.02 billion to $19.54 billion after paying off external debt, according to the State Bank. The report said that as of September 17, $183 million was withdrawn from commercial banks, after which private bank reserves fell from $7.04 billion to $6.85 billion. The State Bank said the country's reserves fell significantly by a total of $662 million in a week, after which the country's total reserves fell from $27.06 billion to $26.40 billion.
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