The SBP’s overseas reserves go down a little bit.
The State Bank of Pakistan’s (SBP) foreign exchange reserves went down a little in the week ending April 28. This was shown by data provided by the central bank on Thursday.
The SBP said in its weekly bulletin that its foreign exchange stocks went down by $6 million to $4.46 billion.
Arif Habib Limited says that the country’s current foreign reserves cover less than a month’s worth of imports. This has been the case for a few months now, as Pakistan is facing a severe balance of payments problem.
The SBP said that the net foreign reserves held by commercial banks were $5.59 billion, bringing the overall liquid foreign reserves of the country to $10.04 billion.