Karachi March 31 2022: The foreign exchange reserves held by the central bank decreased by USD 2,915 million on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.
On March 25, the foreign currency reserves held by the SBP were recorded at USD 12,047.3 million, down by USD 2,915 million compared with USD 14,962.4 million on March 18.
This decline reflects repayment of external debt, including repayment of a major syndicated loan facility from China. The rollover of this syndicated facility is being processed and is expected shortly.
During the same period, foreign exchange reserves held by commercial banks increased by USD 30 million to the level of USD 6.507 billion as of 25th March 2022.
Overall reserves held by country witnessed a decrease of USD 2,885 million during the week ended 25th March 2022.
