The foreign exchange reserves held by the State Bank of Pakistan (SBP) declined slightly in the week ending April 28, data released by the central bank showed Thursday.
In its weekly bulletin, the SBP said its foreign reserves declined by $6 million to $4.46 billion.
According to Arif Habib Limited, the current foreign reserves provide the country with less than a month’s import cover — a position that has remained the same for the last several months as Pakistan faces an acute balance of payments crisis.
The SBP said that net foreign reserves held by commercial banks stood at $5.59 billion, taking the country’s total liquid foreign reserves to $10.04 billion.
