The Pakistan’s official dollar reserves fell by $1.2445 billion in one week due to external debt payments.
According to a statement issued by the State Bank of Pakistan (SBP), the official foreign exchange reserves decreased by $1.2445 billion during the week ending July 10.
Heavy external debt repayments caused the country’s foreign exchange reserves to decline by 6.7 per cent in a week. Total foreign exchange reserves fell from around $24 billion to $22.70 billion.
Dollar deposits declined by $68m
The report stated that the State Bank of Pakistan’s (SBP) dollar reserves dropped from $18.5 billion to $17.20 billion during the week. The dollar deposits held by commercial banks also declined by $68 million, with account holders’ deposits standing at $5.45 billion.
