The State Bank of Pakistan’s (SBP) foreign currency reserves dropped to the lowest since April 2014, central bank figures showed on Thursday. In a statement, the central bank said that the foreign currency reserves held by the SBP were recorded at $6,116.2 million as of December 16, down $584 million compared with $6,700 on December 9. The drop means the reserves have fallen further from last week’s barely 1.5 months of import cover, even as it battles decades of high inflation and scrambles to secure International Monetary Fund (IMF) funds.
