KARACHI – The State Bank of Pakistan’s (SBP) foreign exchange reserves plunged further by $102 million to almost $4.09 billion as of May 26, according to data released on Thursday.
The fresh data shared by the central bank suggest that the aggregate figure remains critical, at about a month’s worth of import cover.
The country’s total liquid foreign reserves were $9.51 million. Commercial banks’ net foreign reserves totaled $5.42 million.
“During the week ended May 26, 2023, SBP reserves decreased by $102 million to $4,090.7 million due to external debt payments,” the SBP stated in a statement.
The foreign exchange reserves of State Bank of Pakistan dropped by $110 million last week to $4.2 billion.
State Bank of Pakistan s foreign exchange reserves plunge to nearly 9-year low
