Pakistan's forex saves with SBP drop to 9-year-low of $3.09bn




The State Bank of Pakistan (SBP) reported on Thursday that Pakistan's foreign trade holdings, which are held by the national bank, decreased by 16.1 percent to $3.09 billion in the week ending January 27. Experts estimate that this amount covers less than three weeks' worth of imports.

In negotiations with the IMF, the country is assured that it would receive the money it needs under a scaled-back rescue scheme. A successful outcome with the IMF would also help release money from various phases that are awaiting approval from the loan specialist.

 

The central bank explained that the $592 million decrease in amounts set aside for potential future usage was caused by reimbursements for external obligations.

Holds maintained by commercial banks were unchanged at $5.65 billion, equivalent to all liquid stores in the

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