SBP reserves rise $19m to $21.5b

Pakistan’s foreign exchange reserves held by the State Bank rose by $19 million to $21.49 billion in the week ending October 16, The Express Tribune reported. Total liquid reserves reached $26.83 billion, including $5.34 billion with commercial banks, while the rupee edged up to 276.85 per US dollar from 276.86.

Domestic gold fell by Rs3,000 per tola to Rs431,536, and 10-gram gold declined by Rs2,572 to Rs369,972. International spot gold was down 2.1% at $4,055.69 an ounce after touching its lowest level since August 4; the report linked pressure on the metal to higher oil prices and expectations that interest rates could remain elevated. Local silver also lost Rs121 per tola, settling at Rs6,086.