Karachi May 26 2022: Foreign exchange reserves held by State Bank of Pakistan registered decline for the fifth consecutive week to the level that is enough to cover country import bill for 44 days.
For the week ending May 20, 2022, Reserves held with SBP down by USD 75 million to USD 10.088 billion as per data released by the Central Bank.
The main reason of this decrease in foreign exchange reserves is external debt repayments.
Pakistan imported goods of USD 59.8 billion and services of USD 9.3 billion during the period from July to April, as per data published by State Bank of Pakistan.
At present, SBP reserves stands at the level of USD 10.088 billion as of 20th May 2022 compared to USD 10.163 billion at the end of week ending 13th May 2022.
During the same period, foreign exchange reserves held by commercial banks increased by USD 64 million to the level of USD 6.61 billion as of 20th May 2022.
Overall reserves held by country witnessed a decrease of USD 11 million during the week ended 20th May 2022.