RECORDER REPORT
Feb 14, 2025
KARACHI: The country’s total liquid foreign exchange reserves fell below the $16 billion mark, primarily due to external debt servicing.
According to the State Bank of Pakistan’s (SBP) weekly report released on Thursday, the total liquid foreign reserves declined by $181 million, standing at $15.863 billion as of February 7, 2025, compared to $16.044 billion on January 31, 2025.
During the week under review, SBP’s reserves decreased by $252 million, reaching $11.167 billion, down from $11.418 billion, due to external debt repayments. However, net foreign reserves held by commercial banks increased by $70 million, rising to $4.696 billion.
State Bank Governor Jameel Ahmed is confident that despite massive scheduled external debt servicing, SBP’s reserves is likely to reach the $13 billion mark by the end of this fiscal year (June 2025). (Source: Business Recorder)