Foreign exchange reserves fell by $36 million to $4.20 billion

The State Bank of Pakistan (SBP) reported on Thursday that its foreign exchange holdings decreased by $36 million to $4.20 billion during the week ending March 31.

Nonetheless, the nation's overall liquid foreign reserves decreased by $56 million to $9.8 billion during the week, while central banks' holdings decreased by $20 million to $5.6 billion.

The SBP foreign exchange reserves experienced a significant outflow of $354 million, down from the year's peak level of $4.598 billion it reached in the week ended on March 17, to $4.244 billion.

While the nation was going through its worst political unrest, which resulted in the overthrow of the PTI government, in April 2022, the central bank had $10.5 billion in foreign reserves.

Since the PDM government took office in April of last year, there has been a rapid decline in reserves, which has resulted in the dollar appreciating by Rs101 versus the local currency.

After Ishaq Dar assumed control of the finance ministry in September 2022, the value of the dollar increased by Rs54.