Pakistan's foreign exchange reserves drop by $310 million

The State Bank of Pakistan's (SBP) foreign exchange reserves decreased by $310 million amid debt payments, the central bank announced on Thursday.

According to the SBP, $153 million was paid in foreign debt, due to which the central bank’s reserves fell by $153 million, reaching $14.30 billion.

Reserves held by commercial banks also dropped by $157 million, bringing their total to $5.30 billion.

The SBP said that Pakistan's total foreign exchange reserves decreased by $310 million, now standing at $19.60 billion.  

It is a significant decline in the country’s foreign exchange reserves.