SBP foreign reserves decline

- Business - April 13, 2023

Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $170 million in the week ending on April 7 owing to external debt repayments, data released by the central bank showed on Thursday. The SBP said in a statement that its reserves stand at $4.03 billion, which was not enough to cover even a month’s imports. Central bank data showed forex reserves held by commercial banks stand at $5.5 billion while the country’s total reserves are $9.6 billion.