The State Bank of Pakistan (SBP) Thursday reported a decline in the country's foreign exchange reserves by $23 million in the week ending on November 17, 2023.
According to the SBP, the reserves of the central bank decreased by $21.7 million to $7.018 billion, while the reserves of the commercial banks decreased by $1.65 million to $5.122 billion.
The total liquid foreign exchange reserves of the country stood at $12.140 billion, down from $12.163 billion in the previous week. The SBP said that it made external debt repayments of $21.7 million during the week.
The foreign exchange reserves of the country have been under pressure due to the widening current account deficit and the rising import bill.