Pakistan's reserves edge up to $26.8bn

KARACHI – Pakistan's foreign exchange reserves edged higher for another week, with the State Bank of Pakistan (SBP) reporting a small gain on Thursday. Reserves held by the central bank rose about $15 million week on week to $21.454 billion in the week ended October 2. The weekly statement is closely watched as an indicator of the country's ability to meet external payment obligations.

Total liquid reserves

Net reserves held by commercial banks increased by $12 million to $5.344 billion, taking the country's total liquid foreign exchange reserves to $26.797 billion, up $26.5 million from the previous week. The week before had also brought a gain, when SBP reserves rose $39 million to $21.439 billion.

Year-to-date gains

Data compiled by Mettis Global show SBP-held reserves have grown $2.98 billion, or 16.15 percent, in the current fiscal year. In the calendar year, the increase stands at $5.40 billion, or 33.49 percent. The sharpest jump came in the week ended September 11, when Eurobond proceeds lifted central bank reserves by $3.061 billion to a then-record $21.4 billion.

Also Read: Karachi extends Section 144 for another 10 days

Import cover and outlook

Reserves covered roughly 3.04 months of imports as of September 25. Prime Minister Shehbaz Sharif earlier credited strong remittances, exports and financial discipline for the improvement, saying wider access to global markets reflected restored confidence in the economy. Weekly gains have since slowed to modest levels, making fresh inflows important for sustaining the cushion. Total liquid reserves were near $19.8 billion at the end of September 2025, so the current level is well above a year earlier.