The State Bank of Pakistan’s (SBP) foreign reserves saw inflows of $36 million in the week ending April 16, 2022, representing a 0.3 per cent increase week over week.
According to the SBP weekly update posted on Thursday, the country’s total liquid foreign exchange reserves increased by $16.9 million (+0.1 per cent) to $17.045 billion on April 16, 2022, up from $17.028 billion the previous week. SBP reserves rose by $36.1 million to $10.88 billion (+0.3 per cent), up from $10.85 billion the week before.
Likewise, commercial banks’ net foreign reserves stood at $6.1 billion, down $19.3 million (-0.3 per cent) on a weekly basis.
In the interbank market on Thursday, however, the Pakistani Rupee (PKR) resumed its downward trend versus the US Dollar (USD). It fell by Rs1.04 to the dollar, Rs1.15 to the Australian Dollar (AUD), Rs2.04 to the Canadian Dollar (CAD), Rs2.42 to the Pound Sterling (GBP), and Rs2.96 to the Euro (EUR).