SBP reserves up $55m to $12.12bn

The foreign exchange reserves held by the State Bank of Pakistan increased 0.45pc on a weekly basis, according to data released by the central bank on Thursday.

The foreign currency reserves held by the SBP were recorded at $12,121.5 million on October 23, up $55 million compared with $12,066.6 million in the previous week.

The central bank reported no particular reason for the increase in reserves.

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Overall, the country’s liquid foreign currency reserves, including net reserves held by banks other than the SBP, stood at $19,296.5 million.

Net reserves held by banks amounted to $7,175 million.

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