Pakistanforeign reserves decline to $13.46b after payment of external debt

The total foreign reserves of Pakistan dropped by $74 million to $13.46 billion on July 27, 2023, according to data released by the State Bank of Pakistan (SBP) on Thursday.

According to the stats issued by the SBP, the country’s foreign reserves dropped by $74 million to $13.46 billion. The reserves in the SBP dropped by $ 32 million to $8.15 billion.

Meanwhile, net foreign reserves held by commercial banks declined by $38 million to US$ 5.3 billion, it added.

According to the SBP, the drop in reserve came after repaying $32million towards external debt.