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.

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.