Pakistan’s Forex Reserves Decline

Data made public on Thursday reveals that the State Bank of Pakistan’s (SBP) foreign exchange reserves experienced a reduction of $127 million on a weekly basis, settling at $10.57 billion as of April 11.

The total liquid foreign reserves for the nation amounted to $15.66 billion. The net foreign reserves held by commercial banks totaled $5.09 billion.

The central bank attributed the decline in reserves to the settlement of external debts.

The SBP stated that its reserves decreased by US$ 127 million to US$ 10,572.4 million during the week concluding on April 11, due to the repayment of external debt.

During the previous week, the SBP’s foreign exchange reserves saw an increase of $23 million.