Pakistan’s liquid foreign reserves were depleted by $377 million in the week ending April 23, 2022, a 2.2 percent drop from the previous week.
According to the SBP weekly report issued on Thursday, the country’s total liquid foreign currency reserves fell by $376.7 million (-2.2 percent) to $16.668 billion on April 23, 2022, from $17.045 billion the previous week. SBP reserves fell by $328 million to $10.55 billion (-3.0%), down from $10.88 billion the week before.
Meanwhile, commercial banks’ net foreign reserves were at $6.1 billion, down $49 million (-0.8 percent) on a weekly basis.
In the interbank market on Thursday, the Pakistani Rupee (PKR) dropped 42 paisas versus the US Dollar (USD). It also lost 40 paisas to the Australian Dollar (AUD), 58 paisas to the Pound Sterling (GBP), and 70 paisas to the Canadian Dollar (CAD) (CAD).
