ISLAMABAD, March 30 (Xinhua) -- The State Bank of Pakistan (SBP) said on Thursday that foreign reserves held by the country stand at 4.24 billion U.S. dollars as of March 24.
In a statement, the central bank said that the country's total liquid foreign reserves stand at 9.82 billion dollars including net foreign reserves of 5.57 billion dollars held by the commercial banks.
During the week ending on March 24 of 2023, the SBP's reserves decreased by 354 million dollars to 4.24 billion dollars due to external debt repayment, the statement added.
The decline in foreign reserves came after a six-week successive increase in the reserves.
The scarcity of the greenback in the South Asian country is taking a toll on its import-based economy, and many private businesses are suffering due to the unavailability of imported raw materials. ■