Pakistan’s Foreign Reserves Fall by Over $500 Million in One Week

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by over $500 million on a weekly basis according to data issued by the central bank on Thursday. According to the latest data released by the SBP, on March 21, the foreign currency reserves held by the SBP were recorded at $10.607 billion, down $540 million compared to $11.147 billion on March 14. The massive weekly decline means that the central bank’s reserves are currently at their lowest level since September 20, 2024. Total liquid forex reserves held by the country including net reserves held by banks other than the SBP, stood at $15.551 billion, down 465 million over the previous week. The net reserves held by banks were recorded at $4.944 billion, registering an increase of $74 million during the week.