LAHORE MIRROR — Foreign exchange reserves held by the State Bank of Pakistan (SBP) dropped to $3.91 billion due to external debt payments amid government efforts to revive stalled International Monetary Fund (MF) programme expiring this month.
The SBP said in a statement on Thursday that its reserves decreased by $179 million to $3.91 billion during the week ended on June 2, barely enough to provide controlled imports cover for one month.
The net foreign reserves held by commercial banks stand at $5.42 billion, $1.51 billion more than the reserves held by the central bank while the total foreign reserves held by the country stood at $9.3 billion as of Jun 2.
