Pakistan’s foreign reserves decline by $300mn

The liquid foreign exchange reserves of the country declined by $300 million to $16.069 billion by the week ended September 7, 2018, as compared with $16.369 billion a week ago, the State Bank of Pakistan (SBP), through a notification on its website, informed on Thursday.

Reserves held by the central bank declined by $261 million to $9.624 billion by the week ended September 7, 2018, as compared with $9.885 billion.

According to the central bank, external debt repayment was the main reason for the decline in the country’s reserves.

The reserves held by commercial banks in the country also declined from $6.484 billion to $6.445 billion, a decline by $39 million.