SBP Forex Reserves Rise to $8 Billion

The central bank’s Forex reserves rose by $14.4 million weekly, as per State Bank of Pakistan (SBP) data released Thursday.

On April 12, SBP Forex currency reserves reached $8.054 billion, up 0.18% from $8.04 billion on April 7, insufficient to cover 4 weeks of essential imports.

Overall, the country’s liquid foreign currency reserves, including non-SBP bank reserves, totaled $13.37 billion, down $68 million (0.5%) from the previous week.

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Bank-held reserves amounted to $5.31 billion, decreasing by $82.4 million during the week.

SBP repaid a $1 billion maturing International Bond (principal plus interest) during the week, though this wasn’t reflected in the latest data.