Karachi April 14 2022: Foreign exchange reserves held by State Bank of Pakistan down for consecutive ninth weeks. For the week ending April 08, 2022, Reserves held with SBP down by USD 470 million to USD 10.85 billion as per data released by the Central Bank.
The main reason of this decrease in foreign exchange reserves is external debt repayments and payment of USD 900 million to Antofagasta for Reko Diq penalty settlement.
At present, SBP reserves stands at the level of USD 10.82 billion as of 08th April 2022 compared to USD 11.32 billion at the end of week ending 1st April 2022.
During the same period, foreign exchange reserves held by commercial banks increased by USD 21 million to the level of USD 6.18 billion as of 1st April 2022.
Overall reserves held by country witnessed a decrease of USD 449 million during the week ended 8th April 2022.
During the last eight weeks the SBP reserves has declined by USD 2,931 million
For the week ended February 04, 2022 the reserves help by state bank recorded at USD 17.337 billion.
At the week ending August 27, the foreign exchange reserves held by the state bank increased to an all-time high of USD 20.15 billion as Pakistan received general allocation of Special Drawing Rights (SDRs) worth USD 2,751.8 million from the International Monetary Fund (IMF) on August 24 2021.
