Pakistan’s Forex Reserves Decline by $115 Million

Pakistan’s liquid foreign reserves witnessed an outflow of $115 million in the week that ended on April 30, 2022, depicting a 0.7 percent dip on a week-on-week basis. The SBP weekly report released on Friday revealed that the country’s total liquid foreign exchange reserves went down by $115 million (-0.7 percent) on April 30, 2022, to $16.553 billion, compared to $16.668 billion in the previous week. The SBP reserves decreased by $59 million to $10.499 billion (-0.6 percent), compared to $10.558 billion a week earlier due to external debt payments. Meanwhile, the net foreign reserves held by the commercial banks stood at $6.05 billion, depicting a decrease of $56 million (-0.9 percent) on a weekly basis.