Pakistan’s foreign exchange reserves saw a $99.8 million decline.

According to reports citing the State Bank of Pakistan (SBP), Pakistan’s total liquid foreign exchange reserves fell by US$99.8 million for the week that concluded on May 31.

The central bank said in a statement that as of May 31, the nation’s foreign exchange reserves were $14.21 billion.

While the reserves held by the commercial banks fell by $115 million to US$5.1 billion, the SBP’s holdings in Pakistan rose by US$15.8 billion to US$9.1 billion.

According to the release, Pakistan’s foreign exchange reserves increased by US$46.5 billion in May 2024.

It was previously reported that the SBP’s foreign exchange reserves were at US$ 9.093 billion, having lost US$ 63 million over the course of the week that concluded on May 24 owing to repayments of external loans.

The nation’s total liquid foreign reserves, according to a statement from the central bank, are $14.31 billion USD.

Commercial banks own US$ 5.22 billion in net foreign reserves, or a portion of the overall foreign reserves, according to the SBP.

The announcement said, “Due to external debt repayments, SBP reserves decreased by US$ 63 million to US$ 9,093.7 million during the week ended on May 24, 2024.”