According to data released by the State Bank of Pakistan on Thursday, Pakistan’s central bank’s foreign exchange reserves declined 0.61 percent on a weekly basis.
The SBP’s foreign currency reserves were recorded at USD 20,022.6 million on September 3, down USD 123 million from USD 20,145.6 million on August 27, according to The Express Tribune.
The decline was caused by repayments of external loans, according to the central bank.
The country’s total liquid foreign currency reserves, which include net reserves held by banks other than the SBP, were USD 27,102.6 million.
According to The Tribune Express, banks’ net reserves totaled USD 7,080 million.
On July 9, 2019, it got the first loan tranche of $991.4 million from the IMF, which helped to boost reserves.
According to The Tribune Express, the IMF released the second loan tranche of roughly USD 454 million in late December 2019.
The reserves also increased as a result of USD 2.5 billion in Chinese inflows.
The SBP successfully repaid over $1 billion in foreign debt on the maturity of Sukuk in 2020.
(With inputs from agencies)
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