KARACHI: Foreign exchange reserves of the State Bank declined $7 million to $11.508 billion during the week ending on May 30, announced the central bank on Thursday.

The SBP is projected to meet the $14bn target before the end of FY25.

Market sources said the pressure is mounting on the rupee amid higher demand for dollars from importers, which pushed its prices. Market sources reported that the SBP is strictly managing the exchange rate, which has provided stability for the economy during FY25.