SBP Reserves Down $87 Million to $7.8 Billion

The foreign exchange reserves held by the central bank decreased 1.1 percent on a weekly basis. The reserves were recorded at $7.809 billion on August 19, down $87 million compared to the previous week’s figure of August 12 ($7.897).

The country’s reserves are sufficient to cover its import bill for 1.1 months, an analyst said.

However, a loan from the International Monetary Fund (IMF) is likely to ease the pressure on the government’s finances in the coming weeks.