On a weekly basis, Pakistan's liquid foreign reserves had an outflow of $385 million in the week that concluded on March 11, 2022, representing a 1.7 percent decrease from the previous week.
As reported in the SBP's weekly update, which was released on Thursday, the country's total liquid foreign exchange reserves fell by $385.3 million on March 11, 2022, to $22.28 billion, compared to $22.66 billion the previous week, according to the SBP. SBP's reserves fell by $380.6 million to $15.83 billion (-2.34 percent) from $16.21 billion a week ago, compared to $16.21 billion the previous week.
Meanwhile, the net foreign currency reserves held by commercial banks were at $6.4 billion, representing a decline of $4.7 million on a weekly basis, according to the Federal Reserve.
Payment against debt servicing to various lenders, as well as the global assault of inflationary pressures, have been cited as reasons for the drop in foreign exchange rates.
On the other hand, the Pakistani Rupee (PKR) suffered losses versus the US Dollar and other currencies at the end of Thursday's interbank trading session. India's rupee fell by 63 pip against the dollar, 16 pip against the Saudi Riyal (SAR), 17 pip against the UAE Dirham (AED), and Rs. 3.27 against the British pound sterling (GBP).
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As reported in the SBP's weekly update, which was released on Thursday, the country's total liquid foreign exchange reserves fell by $385.3 million on March 11, 2022, to $22.28 billion, compared to $22.66 billion the previous week, according to the SBP. SBP's reserves fell by $380.6 million to $15.83 billion (-2.34 percent) from $16.21 billion a week ago, compared to $16.21 billion the previous week.
Meanwhile, the net foreign currency reserves held by commercial banks were at $6.4 billion, representing a decline of $4.7 million on a weekly basis, according to the Federal Reserve.
Payment against debt servicing to various lenders, as well as the global assault of inflationary pressures, have been cited as reasons for the drop in foreign exchange rates.
On the other hand, the Pakistani Rupee (PKR) suffered losses versus the US Dollar and other currencies at the end of Thursday's interbank trading session. India's rupee fell by 63 pip against the dollar, 16 pip against the Saudi Riyal (SAR), 17 pip against the UAE Dirham (AED), and Rs. 3.27 against the British pound sterling (GBP).