KARACHI: Declining by 1.4 per cent on a weekly basis, the country’s foreign exchange reserves held by the State Bank of Pakistan (SBP) continued to cause concern, according to data released by SBP on Thursday.
Causing major worries, the successive decline in foreign reserves throw a question mark at the country’s capacity to face its future payment obligations, all the while managing its internal debt crisis.
On April 6, foreign currency reserves held by SBP were recorded at $11,438.3 million, down $163.7 million, compared to $11,602 million in the previous week. This decrease in reserves was a result of external debt servicing and other national payments.
According to SBP, liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $17,639.8 million.
