SBP reserves up $146m to $11.7bn

The foreign exchange reserves held by the State Bank of Pakistan increased 1.26pc on a weekly basis, according to data released by the central bank on Thursday.

On January 17, the foreign currency reserves held by the state bank were recorded at $11,731.5 million, up $146 million compared with $11,586 million in the previous week.

The central bank cited no reason for the increase in reserves.

The overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $18,271 million. Net reserves held by banks amounted to $6,539.5 million.