Pakistan’s foreign exchange reserves dropped by $115 million

Pakistan’s liquid foreign reserves were depleted by $115 million in the week ending April 30, 2022, a 0.7 per cent drop from the previous week.

According to the SBP weekly report unveiled on Friday, Pakistan’s total liquid foreign exchange reserves declined by $115 million (-0.7 per cent) to $16.553 billion on April 30, 2022, from $16.668 billion the previous week.

Due to external debt payments, the SBP reserves fell by $59 million to $10.499 billion (-0.6 per cent) from $10.558 billion a week earlier.

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Furthermore, commercial banks’ net foreign reserves stood at $6.05 billion, down $56 million (-0.9 per cent) on a weekly basis.