KARACHI: The State Bank of Pakistan (SBP) has reported a decline of $91 million in the country’s total foreign exchange (forex) reserves for the week ending April 11, 2025.
According to the weekly data released by the SBP on Thursday, the total forex reserves now stand at $15.662 billion, down from $15.753 billion recorded a week earlier on April 4, 2025.
The SBP detailed that the official forex reserves held by the central bank experienced a notable drop of $128 million, bringing the figure down to $10.572 billion by the end of the reporting week. In contrast, the forex reserves maintained by commercial banks saw a modest increase of $37 million, climbing to $5.09 billion from $5.053 billion the previous week.
This downward trend in SBP-held reserves is primarily attributed to rising foreign debt repayments, which continue to place pressure on the country’s external balance. Pakistan has been relying heavily on multilateral support to maintain its reserve buffers, and a fresh inflow from the International Monetary Fund (IMF) is expected in the coming weeks, which could help stabilize the reserves position.
The SBP has emphasized the importance of maintaining adequate forex reserves to meet external obligations and ensure economic stability. In its latest commentary, the central bank reiterated its commitment to managing the balance of payments and keeping the foreign exchange market stable despite global and domestic challenges.
Experts believe that while the rise in commercial bank reserves offers some support, the central bank’s declining reserves remain a concern amid Pakistan’s ongoing efforts to improve its fiscal health and secure further financial assistance from international partners. With upcoming debt payments and import financing needs, a strong reserve position is crucial for sustaining market confidence.
The SBP continues to monitor external inflows closely and is working with relevant stakeholders to attract foreign investments, improve current account performance, and rebuild the country’s forex reserves to more comfortable levels.
