FX reserves drop further by $449mn in a week

MG News | April 14, 2022 at 09:52 PM GMT+05:00

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April 14, 2022 (MLN): The total liquid foreign exchange reserves held by the country dropped by $449 million or 2.6% WoW to stand at the lowest level of $17bn since June 19, 2020, during the week ended on April 08, 2022, compared to $17.5bn in the previous week, weekly data released by the State Bank of Pakistan (SBP) on Thursday showed.

The data further revealed that reserves held by the central bank during the week declined by $470 million or 4.1% WoW to clock in at the lowest level of $10.8bn since June 19, 2020, mainly due to external debt repayments.

On the contrary, the reserves of commercial banks inched up by $21mn or 0.3% WoW to $6.2bn from $6.15bn in the preceding week.

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