SBP reserves drop $12m to $13.4bn

The foreign exchange reserves held by the State Bank of Pakistan dropped 0.09pc on a weekly basis, according to data released by the central bank on Thursday.

On January 8, the foreign currency reserves held by the SBP were recorded at $13,400 million, down $12 million compared with $13,412.3 million in the previous week.

The central bank gave no reason for the decrease in reserves.

Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,519 million. Net reserves held by banks amounted to $7,119 million.