The State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $33 million during the week ended October 23, 2026. The latest figures show reserves reaching $21.52 billion.
According to the central bank, its reserves stood at $21,521.7 million during the reporting week. This marks the second consecutive weekly increase in the country’s central bank reserves.
In the previous week, SBP reserves rose by $19 million to approximately $21.49 billion. That increase was recorded during the week ended October 16, 2026.
The latest growth indicates another weekly improvement in the central bank’s foreign currency holdings. However, the country’s total liquid reserves also include foreign exchange held by commercial banks.
Pakistan’s Total Liquid Foreign Reserves Reach $26.75 Billion
Pakistan’s total liquid foreign exchange reserves stood at $26.75 billion on October 23, 2026. The figure includes reserves held by the SBP and commercial banks.
The central bank held $21.52 billion of the total amount. Meanwhile, commercial banks maintained net foreign exchange reserves of $5.233 billion.
Commercial bank reserves declined from $5.344 billion recorded one week earlier. This represents a decrease of approximately $111 million during the reporting period.
Despite the reduction in commercial bank holdings, the country’s total liquid reserves remained above $26 billion. The latest figures provide an overview of Pakistan’s foreign exchange position during the week.
Foreign exchange reserves are important for managing a country’s external financial needs. They help support international payments and provide a buffer against external economic pressures.
SBP Sets Targets for Foreign Exchange Reserves
The latest increase comes after SBP Governor Jameel Ahmed outlined the central bank’s reserve targets. He said the SBP expects its foreign exchange reserves to reach $23 billion by December 2026.
The central bank is also targeting reserves of $25 billion by June 2027. These goals indicate the expected direction of Pakistan’s foreign exchange reserve position over the coming months.
Achieving these targets would require reserves to increase from their latest reported level. The pace of future growth will depend on developments affecting the country’s foreign currency inflows and outflows.
The December target is approximately $1.48 billion above the current reserve level. Meanwhile, the June 2027 target is around $3.48 billion higher than the October 23 figure.
These amounts represent the increases needed to reach the stated targets, assuming the current level remains the starting point. Actual reserve movements may change in subsequent reporting periods.
Latest Figures Show Two Consecutive Weekly Gains
The latest SBP data records two consecutive weeks of growth in central bank reserves. The reserves increased by $19 million in the week ended October 16, followed by another $33 million gain.
Together, these increases added $52 million to the central bank’s reserves over two weeks. The figures provide a recent snapshot of Pakistan’s foreign exchange position.
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The SBP’s future reserve performance will remain important as the central bank works toward its announced targets. The next weekly updates will show whether the recent upward trend continues.
