KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $76 million on a weekly basis, reaching $11.37 billion as of January 24, 2025, according to data released on Thursday.

This drop was primarily attributed to external debt repayments, which have continued to impact the reserves.The country's total liquid foreign reserves amounted to $16.05 billion, with commercial banks holding $4.68 billion in net foreign reserves. Despite the decrease in SBP reserves, the overall foreign exchange reserves in the country still remain significant.

In the previous week, SBP reserves had seen a more substantial decrease of $276 million, highlighting the ongoing pressure from debt repayments and other external factors. These fluctuations in reserves are part of the broader challenges faced by Pakistan in managing its external liabilities while striving to maintain macroeconomic stability. The government and the central bank are closely monitoring the situation, and steps are being taken to bolster reserves, including securing financial support from international institutions and managing fiscal and monetary policies more effectively. Despite the recent decline, the reserves are considered adequate for managing the country's immediate external obligations.