SBP Reserves Decline to $4.46 Billion

The foreign exchange reserves held by the central bank declined marginally on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On April 28, the foreign currency reserves held by the SBP were recorded at $4.457 billion, down $6 million compared to $4.463 billion on April 20. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $10.043 billion, up $19 million over the previous week. The net reserves held by banks stood at $5.586 billion, registering an increase of $25 million during the week. Despite the marginal decline, the import cover remains at 0.98 months according to Arif Habib Limited.