The foreign exchange reserves held by the central bank increased by $14.4 million on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.
On April 12, the foreign currency reserves held by the SBP were recorded at $8.054 billion, up 0.18 percent compared to $8.04 billion on April 7, which is not sufficient to cover 4 weeks’ worth of essential imports.
Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $13.37 billion, down $68 million or 0.5 percent over the previous week.
The net reserves held by banks stood at $5.31 billion, registering a decrease of $82.4 million during the week.
During the week, SBP executed the repayment of $1 billion maturing Pakistan’s International Bond (principal plus interest). However, the repayment of a $1 billion International Bond was not reflected in this week’s data.
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.