SBP reserves steady

Foreign exchange reserves of the State Bank of Pakistan (SBP) remained unchanged during the week ended on Oct 14, the central bank announced on Thursday. The SBP reserves were $7.597 billion while the holdings of the commercial banks were $5.653bn during the week. The total reserves of the country were almost unchanged at $13.251bn. The interbank market witnessed a slight appreciation of 8 paise in the dollar price to close at Rs220.95. However, the open market reported a Rs2.50 decline in greenback price to Rs225.50 from Rs228 a day before.