Pakistan’s forex reserves fall by $1.23 billion

The State Bank of Pakistan (SBP) announced that its foreign exchange reserves had decreased by 1.23 billion US dollars.

During the week ending on Jan. 6, the total foreign exchange reserves of the Pakistani central bank fell to around 4.34 billion dollars, the SBP said in a statement late on Thursday.

The decrease was “due to external debt repayments,” said the statement.

Net foreign reserves held by commercial banks came at 5.84 billion dollars, it said.

Total liquid foreign reserves held by the South Asian country stood at about 10.18 billion dollars, according to the central bank.