ISLAMABAD: State Bank of Pakistan (SBP) said its foreign exchange reserves had fallen by $ 482 million. During week ending on June 16, total foreign exchange reserves held by central bank dropped to around $ 3.5 billion, SBP said in a statement.

Downward trend was witnessed "Due to external debt repayment," SBP said. In running week, central bank has received $ 300 million in proceeds government of Pakistan's commercial loan, said statement.

"These inflows shall be incorporated in reserves position to be published next week," it added. Meanwhile, net foreign reserves held by commercial banks came at $ 5.3 billion.

Total liquid foreign reserves held by cash-strapped country stood at about $ 8.9 billion, according to SBP.