The foreign exchange reserves held by the State Bank of Pakistan plunged 8.54pc on a weekly basis, slipping below the $8 billion mark, according to data released by the central bank on Thursday.
On September 27, the foreign currency reserves held by the SBP were recorded at $7,741.6 million, down $723.7 million compared with $8,465.3 million in the previous week. The decline in reserves was on account of debt repayments by the government, SBP added.
The overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $15,003.7 million. Net reserves held by banks amounted to $7,262.1 million.
