ISLAMABAD: The central bank’s weekly bulletin revealed a minor decline in the foreign exchange reserves of the State Bank of Pakistan (SBP) during the week ending April 28.
As per the report, the SBP’s foreign reserves have reduced by $6 million, standing at $4.46 billion. According to financial experts at Arif Habib Limited, the current foreign reserves are not enough to cover the country’s imports for more than a month.
This situation has persisted for several months now as Pakistan deals with an acute balance of payments crisis. The SBP has stated that the country’s total liquid foreign reserves, including net foreign reserves held by commercial banks, amounted to $10.04 billion.