Karachi, April 30, 2024 : Pakistan’s foreign exchange reserves experienced a decline of $9.32 million for the week ending April 19.
The State Bank of Pakistan (SBP) reported that as of April 19, the country’s domestic foreign exchange reserves stood at $13.28 billion.
SBP’s own foreign exchange reserves experienced a significant decrease, falling by $7.35 million to $7.98 billion.
Concurrently, commercial banks’ reserves also declined, dropping by $1.97 million to $5.29 billion, as confirmed by the SBP.
In the preceding week ending on April 12, SBP’s foreign exchange reserves had increased by $14.4 million to $8.055 billion.
“During the week, SBP has executed the repayment of US$1 billion maturing Pakistan’s International Bond (principal plus interest),” stated a weekly report.
Yet, total reserves dropped by $68 million to $13.374 billion. Similarly, commercial banks’ reserves fell by $82 million to $5.319 billion.
