Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.37% on a weekly basis on January 8, according to data released by the central bank on Thursday.

SBP’s liquid foreign exchange reserves decreased by $59 million to $15,824 million compared to $15,883 million in the previous week. This decrease was due to payments of $60 million on account of external debt servicing.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,759.6 million while net reserves held by banks amounted to $4,935.6 million.

Two weeks ago, foreign exchange reserves held by the SBP increased 3.5% on a weekly basis after it received $500 million from the International Monetary Fund (IMF).

The SBP received $918 million in November from multilateral, bilateral and other official sources, which include $500 million from the World Bank and $400 million from the Asian Development Bank.

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