Pakistan’s foreign exchange reserves declined sharply during the past week following a major external debt repayment, according to the State Bank of Pakistan (State Bank of Pakistan).
The central bank reported a decrease of $1.37 billion in total liquid reserves, bringing the country’s holdings down to $20.52 billion for the week ending April 10, 2026.
Reserves held by the SBP dropped to $15.08 billion from $16.40 billion a week earlier, reflecting a weekly decline of $1.32 billion. Meanwhile, reserves held by commercial banks also saw a slight decrease of $50 million, settling at $5.45 billion.
Overall, Pakistan’s total liquid reserves fell from $21.89 billion to $20.52 billion on a week-on-week basis.
Market analysts noted that the decline follows Pakistan’s repayment of a $1.4 billion Eurobond, which exerted significant pressure on reserve levels. According to estimates by Topline Securities, the current reserves provide import cover of approximately 3.08 months, down from 3.35 months in the previous week.
However, some relief is expected in the coming data cycle, as Saudi Arabia has deposited $2 billion into the SBP, which will be reflected in next week’s reserves update.
The latest figures highlight ongoing external sector pressures, even as inflows continue to provide temporary support to the country’s foreign exchange position.
