The foreign exchange reserves held by the State Bank of Pakistan (SBP) saw a decline of $152 million in the week ending March 7, bringing the total to $11.1 billion, according to data released on Thursday.
Overall, the country’s liquid foreign reserves stood at $15.93 billion, with $4.83 billion held by commercial banks.
The drop in SBP-held reserves marks their lowest level in nearly five months. The central bank cited external debt repayments as the primary reason for the decrease.
“During the week ending March 7, 2025, SBP reserves fell by $152 million to $11.1 billion due to external debt repayments,” stated the SBP.
This follows a $27 million increase in the SBP’s reserves reported the previous week.
Rupee closing
The Pakistani rupee (PKR) experienced a slight depreciation against the US dollar during Thursday’s interbank session, dropping by 8.11 paisa or 0.03 per cent. The currency closed at PKR 280.05 per US dollar, marginally lower than the previous day’s close of 279.97.
Throughout the day, the rupee traded within a narrow range, touching an intraday high of 280.05 and a low of 280.00 against the dollar.
Meanwhile, in the open market, exchange companies quoted the dollar at 280.20 for buying and 281.75 for selling.
When compared with other major currencies, the rupee saw mixed performance. It appreciated by Rs1.26 or 0.41 per cent against the Euro, closing at 304.43 from the previous value of 305.69.
However, the rupee weakened against the British pound, dropping by 51.10 paisa or 0.14 per cent to close at 362.82, compared to 362.31 a day earlier.
