Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $152 million during the week ending March 7, according to data released by the central bank on Thursday.

The SBP’s foreign currency reserves fell to $11.098 billion, down from $11.250 billion recorded on February 28. In a statement accompanying the data, the central bank attributed the decrease to external debt repayments made during the week.

Despite the decline in the SBP’s holdings, the country’s overall foreign exchange reserves, which include net reserves held by commercial banks, actually increased by $55 million to reach $15.929 billion.

This overall increase was driven by a significant rise in commercial banks’ foreign exchange holdings, which grew by $206 million during the same period to reach $4.831 billion.

The weekly fluctuation in reserves comes as Pakistan continues to manage its external financial obligations while working to maintain adequate foreign exchange buffers. The country has been implementing various economic reforms under its $7 billion Extended Fund Facility program with the International Monetary Fund.