Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $140 million on a weekly basis, clocking in at $7.64 billion as of September 8.

According to the data released on Thursday, total liquid foreign reserves held by the country stood at $13.08 billion. Net foreign reserves held by commercial banks stood at $5.44 billion.

The central bank cited debt repayments as the reason for the decrease in foreign currency reserves.

“During the week ended on 08-Sep-2023, SBP’s reserves decreased by $140 million to $7,638.9 million on account of debt repayments,” the SBP said.

Last week, the SBP’s reserves fell by $70 million. In four weeks, the dollar stockpile with the central bank has dropped by a cumulative $416 million.