State Bank of Pakistan’s foreign reserves fall by $367 million

As of April 18, 2025, Pakistan’s total liquid foreign reserves were $15.4 billion. Out of this, the State Bank of Pakistan (SBP) held $10.2 billion, while commercial banks held $5.2 billion.

During the week ending April 18, the central bank’s reserves dropped by $367 million due to payments on external debt. This was the second consecutive week of decline, following a $127 million drop the week before.

Earlier in April, SBP’s reserves had increased slightly by $23 million and $70 million in two separate weeks. However, before that, there was a sharp decline of $540 million.

Looking further back, the reserves showed minor increases and decreases through February and January. For example, in mid-February, reserves rose by $35 million but had dropped by $252 million the week before. In late January, the central bank saw an increase of $46 million, following a $76 million drop due to debt payments. In mid-January, reserves also fell by $276 million for the same reason.

Overall, the central bank’s reserves have fluctuated throughout the year, mainly due to repayments of external debt.