KARACHI: The country’s total liquid foreign exchange reserves continued to decline and reached below $17 billion mark end of the last week.

According to the State Bank of Pakistan (SBP) weekly report issued on Thursday, the total liquid foreign exchange reserves held by the country declined by $ 377 million to stood at $ 16.668 billion as of April 23, 2022 down from $ 17.045 billion a week earlier.

During the week under review, SBP reserves decreased by $ 328 million to $ 10.558 billion, due to external debt and other payments.

SBP-held reserves increase marginally, now stand at $10.89bn

In addition the net foreign reserves held by commercial banks fell $ 49 million to 6.11 billion.

It may be mentioned here that the country’s foreign exchange reserves are on decline for the last few months and the government is making efforts for revival of IMF programme to build the depleting foreign exchange.

Copyright Business Recorder, 2022