The State Bank of Pakistan’s (SBP) foreign exchange reserves decreased by 4.17 % and reached USD 9.75 billion.
The SBP’s foreign currency reserves on November 25, 2022, were at $7,498.7, down $327 million from the $7,825.7 million recorded on November 18.
The country’s total liquid foreign currency reserves, comprising net reserves held by banks other than the SBP, amounted to $13,378.2 million.
The total amount of banks’ net reserves was $5,879.2 million. The central bank attributed this drop to the repayment of external debt.
With its existing foreign exchange reserves, Pakistan has less than a one-and-a-half-month import cover.
The reserves are anticipated to increase the next week since Pakistan has received $500 million from the Asian Infrastructure Investment Bank (AIIB).
The Ministry of Finance tweeted that monies have been deposited with the SBP and “will bolster Pakistan’s reserves.”
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