SBP reserves surge $184m to $11.9bn

The foreign exchange reserves held by the State Bank of Pakistan increased 1.57pc on a weekly basis, according to data released by the central bank on Thursday.

On January 24, the foreign currency reserves held by the SBP were recorded at $11,915.2 million, an increase of $184 million compared with $11,731.5 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 $18,362.7 million. Net reserves held by banks amounted to $6,447.5 million.