The State Bank of Pakistan’s (SBP) foreign exchange reserves dipped by $63 million in a week, according to data released on Thursday. As of May 24th, the central bank’s reserves stood at $9.094 billion, down from $9.157 billion on May 17th.
Pakistan’s total liquid foreign currency reserves, including reserves held by commercial banks, also declined by $270 million to $14.315 billion. Net reserves held by banks fell $207 million to $5.222 billion during the same period.
These fluctuations in Pakistan’s foreign exchange reserves raise questions about the factors influencing them and their potential impact on the country’s economic future.