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Pakistan foreign reserves recorded a slight uptick on a weekly basis, according to the latest data released by the State Bank of Pakistan (SBP).
As per the data issued by the SBP for the week ending April 25, Pakistan foreign reserves held by the central bank reached $10.214 billion, marking a $9 million increase from $10.206 billion reported on April 18.
The total liquid foreign exchange reserves of the country, which include net reserves maintained by banks other than the SBP, were recorded at $15.25 billion. This figure shows a decline of $184 million compared to the previous week.
Meanwhile, the net reserves held by commercial banks stood at $5.03 billion, reflecting a weekly decrease of $193 million.
Pakistan foreign reserves have seen slight fluctuations in recent weeks as the country manages its external financing needs and economic stability efforts.
Last week, the country’s foreign reserves fell by $367 million to compensate for debt repayments.
To put things in perspective, Pakistan’s forex reserves had reached an all-time high of over $20 billion in October 2016. Conversely, they plunged to a historic low of around $3 billion in early 2023, raising alarm over the country’s ability to meet its import and debt obligations.
