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KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) declined by $956 million to $7.95 billion during the week ended November 4 due to provision of external loans.
Major external debt repayments during the week included the government’s commercial debt repayments. The central bank said the process of refinancing these loans is underway, which will improve foreign exchange reserves in the coming weeks.
The country’s total liquid foreign reserves stood at $13.72 billion. Net foreign reserves held by commercial banks were $5.76 billion.
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