The foreign reserves held by the State Bank of Pakistan (SBP) witnessedoutflows of $470 million in the week that ended on April 8, 2022, depictinga 4.1 percent decline on a week-on-week basis.

The SBP weekly report released on Thursday revealed that the country’stotal liquid foreign exchange reserves went down by $449 million (-2.6%) onApril 8, 2022, to $17 billion, compared to $17.47 billion in the previousweek. The SBP reserves decreased by $470 million to $10.85 billion (-4.1%),compared to $11.32 billion a week earlier.

Meanwhile, the net foreign reserves held by the commercial banks stood at$6.1 billion, depicting an increase of $21 million (+0.3%) on a weeklybasis.

Today’s forex update by the central bank shows that as of April 9, theprevious government left behind $10.8 billion in gross official foreignexchange reserves for the new regime.