[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]According to data issued by the State Bank of Pakistan (SBP) on Thursday, the central bank’s foreign exchange reserves fell by 4.3 percent on a weekly basis.
The SBP’s foreign currency reserves were declared at $3.912 billion on June 2, down $179 million from $4.091 billion on May 26.
The country’s total liquid foreign currency reserves, comprising net reserves held by banks other than the SBP, were $9.335 billion, a $178 million decrease from the previous week. Bank net reserves stood at $5.423 billion, a small increase over the previous week.
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According to Arif Habib Limited, the country’s import cover has now fallen to 0.86 months due to the central bank’s sixth consecutive loss in reserves.
In layman’s terms, Pakistan only has enough money to cover imports for about 25 days. The last time Pakistan’s reserves went below $4 billion was in February.[/vc_column_text][/vc_column][/vc_row]
