ISLAMABAD, Nov. 11 (Xinhua) -- The State Bank of Pakistan (SBP) has announced that its foreign exchange reserves have decreased by 956 million U.S.
ISLAMABAD, Nov. 11 (Xinhua) — The State Bank of Pakistan (SBP) has announced that its foreign exchange reserves have decreased by 956 million U.S. dollars.
During the week ending on Nov. 4, the total foreign exchange reserves of the SBP fell to around 7.95 billion dollars, the SBP said in a statement on Thursday night.
The decrease occurred due to the external debt servicing. Major external debt repayments executed during the week included repayment of the government’s commercial loans.
“Refinancing of these loans is in process which will improve foreign exchange reserves in coming weeks,” the statement added.
Net foreign reserves held by commercial banks came at 5.76 billion dollars, the central bank said.
The total liquid foreign reserves held by the South Asian country stood at about 13.72 billion dollars, according to the SBP. ■
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