Tracks the Rupee's exchange rate against the US Dollar alongside the State Bank's total foreign exchange reserves.
Tracks the Rupee's exchange rate against the US Dollar alongside the State Bank's total foreign exchange reserves.
▸USD/PKR rose 60.2% over the selected period — from 173PKR to 277PKR.
▸Total SBP Reserves rose 34.2% over the selected period — from 16.14B USD to 21.66B USD.
▸Over this period, USD/PKR and Total SBP Reserves showed little consistent relationship, moving in opposite directions (correlation coefficient: -0.07).
Sources:: SBP EasyData
Reserves are the buffer that lets SBP defend the Rupee during external pressure — when reserves fall, the Rupee has historically come under more depreciation pressure, and vice versa when reserves are rebuilt.
Does a falling Rupee always mean reserves are falling?
Not always — exchange rate moves can also reflect interest rate differentials, market sentiment, and import demand. But sustained Rupee depreciation alongside falling reserves is historically a sign of external account stress.
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