The State Bank of Pakistan (SBP) reported a significant decline in foreign exchange reserves, with a weekly decrease of over $250 million. According to data released by the central bank on Thursday, the SBP’s foreign currency reserves stood at $11.167 billion as of February 7, down $252 million from $11.418 billion recorded on January 31.

Despite crossing the $12 billion mark at the end of November 2024, reserves have been trending downward in recent weeks, primarily due to external debt repayments.

In a broader context, the overall liquid foreign currency reserves in the country, which include net reserves held by banks other than the SBP, totaled $15.863 billion. This figure reflects a decrease of $181 million compared to the previous week. However, net reserves held by banks saw a positive shift, increasing by $70 million to reach $4.696 billion during the same period.