KARACHI: According to the data released on Thursday, the State Bank of Pakistan (SBP) recorded a decrease of $36 million in its foreign exchange reserves, which stood at $4.21 billion as of March 31.
The total liquid foreign reserves of Pakistan stood at US$ 9,759.8 million while reserves held by the central bank reached US$4,207.9 million.
This came despite the fact that ast month, Pakistan received the second disbursement of $500 million from the Industrial and Commercial Bank of China (ICBC).
The State Bank of Pakistan, in a statement issued here on Thursday, informed that during the week ended on March 31, 2023, SBP’s reserves decreased by US$ 36 million to US$ 4,207.9 million due to debt repayments.
Meanwhile, net foreign reserves held by commercial banks stood at US$ 5,551.9 million, it added.
Experts have warned that the overall number stands at a critical level at around a month of import cover.
In the previous week ended on March 24, total liquid foreign reserves held by the country were US$ 9,815.9 million. Among them foreign reserves held by the SBP were US$ 4,244.3 million while net foreign reserves held by commercial banks were US$ 5,571.6 million.
