Pakistan’s total liquid foreign exchange reserves declined to $22.68 billion as of July 10, 2026, according to the latest data released by the State Bank of Pakistan (SBP) on Thursday.
The central bank’s reserves stood at $17.23 billion, while net foreign exchange reserves held by commercial banks amounted to $5.45 billion.
The SBP reported that its reserves fell by $1.245 billion during the week under review, primarily because of external debt repayments.
The decline followed a sharp increase in the previous week, when the central bank’s reserves rose by $1.944 billion to $18.471 billion due to the receipt of government-related inflows.
Earlier, SBP reserves had increased by $611 million during the week ending June 24, reaching $16.527 billion. The rise was mainly attributed to inflows from multilateral institutions.
This followed a $1.305 billion decline in the preceding week, which was also linked to external debt repayments.
The central bank’s reserves had previously posted a series of modest gains, rising by $6 million to $17.221 billion, followed by increases of $25 million and $43 million in successive weeks. Another weekly rise of $66 million had taken reserves to $17.147 billion.
The largest recent increase came during the week ending May 15, when SBP reserves climbed by $1.214 billion to $17.081 billion. The increase was mainly supported by funds received from the International Monetary Fund under the Extended Fund Facility and Resilience and Sustainability Facility, along with proceeds from Panda bond issuance, although some external debt repayments were also made during the period.
In earlier weeks, SBP reserves recorded smaller increases of $17 million, $23 million and $730 million. The $730 million rise was primarily driven by proceeds from Pakistan’s Eurobond issuance.
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