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Turkey’s government goes on the defensive as the main opposition presses for answers on how the central bank ended up with negative reserves.

It’s a hot Saturday afternoon in Lagos and as you drive down the narrow street lined with cars to attend the naming ceremony of your colleague’s newborn son, a horde of young men come rushing onto the street from a nondescript building at the corner. Your first reaction is to slow down and watch their next move, another part of you wants to quickly get out of the way to avoid any untoward occurrence. There is a brief and palpable fear inside the car as you scan the faces of the crowd passing by, trying to make out their words and expressions. Suddenly, your eyes light up. Alas! The furore...

Foreign exchange: SBP reserves fall $12m to $13.4b Central bank cites no reason for decrease Liquid foreign currency reserves held by the country stood at $20,519m. PHOTO: FILE KARACHI: The foreign exchange reserves held by the central bank fell 0.09% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) 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 ...

The foreign exchange reserves held by the central bank rose 1.98% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday