State Bank of Pakistan's forex reserves fall by $245 mn

The State Bank of Pakistan (SBP) announced that its foreign exchange reserves had decreased by $245 million.

During the week ending on December 30, 2022, the total foreign exchange reserves of the Pakistani central bank fell to around $5.57 billion, Xinhua news agency quoted the SBP as saying in a statement issued on Thursday night.

The decrease was "due to external debt repayment," the statement said.

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Net foreign reserves held by commercial banks came at $5.84 billion, the central bank said.

Total liquid foreign reserves held by the country stood at about $11.42 billion, according to the SBP.