Karachi (Commerce Desk): Pakistan’s official foreign exchange reserves recorded a decline of $1.2445 billion due to payments of foreign loans and other financial obligations.
According to the State Bank of Pakistan, during the week ending July 10, the country’s official foreign exchange reserves witnessed a significant decrease, falling to $17.2258 billion.
The latest data released by the central bank showed that Pakistan’s total foreign exchange reserves stood at $22.6755 billion.
According to the State Bank, the foreign exchange reserves held by commercial banks amounted to $5.4497 billion.
Officials said that the major reason behind the decline in foreign exchange reserves was the repayment of external debt and other financial liabilities.