Foreign exchange: SBP reserves dip 2pc to stand at $8.04bn.

The foreign exchange reserves held by the central bank decreased 1.98percent on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. Earlier, the reserves had spiralled downwards, falling below the $7-billion mark, which raised concern over Pakistan's ability to meet its financing requirements. However, the financial assistance from the United Arab Emirates (UAE) and Saudi Arabia helped shore up the foreign exchange reserves. China and the UAE have agreed to provide more cushion for the fast depleting reserves. On February 15, the foreign currency...