KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves decreased by 4.07% once more, continuing the recent pattern that has been prevailing.According to data issued by the SBP on Thursday, as of September 23, the foreign exchange reserves held by the SBP were $8,005.9 million, a decrease of $341 million from $8,346.4 on September 16.
In all, the nation maintained $13,761.9 million in liquid foreign currency reserves, including net reserves held by banks other than the SBP.The total amount of net reserves held by banks was $5,756 million. The central bank highlighted external debt repayment as a primary cause behind the fall.Pakistan currently has fewer than two months’ worth of import coverage in its foreign exchange reserves.The Pakistani rupee has been under intense pressure as a result of a critical reserve level, becoming the currency with the worst performance this month.
