SBP reserves fall $367m

The State Bank of Pakistan (SBP) foreign exchange reserves dropped further by $367 million to $10.205 billion during the week ending on April 18 due to external debt repayments, announced the central bank on Thursday. The country’s overall forex holdings slipped to $15.436 billion, including $5.230bn held by commercial banks. Dollar bonds dive According to a Reuters report, Pakistan’s dollar-denominated government bonds dropped more than 4 cents on Thursday, Tradeweb data showed, as tensions with neighbouring India escalated. The 2036 maturity fell the most, shedding over 4 cents to be bid at 74 cents on the dollar.