What Are Pakistan’s Foreign Exchange Reserves Now?
News Desk
Islamabad: Pakistan’s total liquid foreign exchange reserves have climbed to $22.53 billion, but the figure tells a more nuanced story when the holdings of the State Bank of Pakistan (SBP) and commercial banks are examined separately.
According to the latest weekly statement issued by the SBP, the central bank’s foreign exchange reserves increased by $19 million during the week ended August 28, 2026, reaching $17.1178 billion.
Commercial banks, meanwhile, held $5.41 billion in net foreign exchange reserves, bringing Pakistan’s total liquid reserves to $22.53 billion.
The revealing difference behind headline figure
The headline number of $22.53 billion represents the combined reserves of the central bank and commercial banks. However, the SBP’s $17.12 billion is the more closely watched component because it represents the country’s official central-bank reserve holdings.
The latest figures show that roughly three-quarters of Pakistan’s total liquid reserves are held by the SBP, while the remainder is with commercial banks.
That distinction matters when assessing Pakistan’s external financial buffer. Total reserves provide a broader picture of foreign currency held within the banking system, while SBP reserves are particularly important when evaluating the country’s capacity to manage external payments and financial pressures.
Two consecutive weeks of growth
The latest increase also extends a modest upward trend.
During the previous week ended August 21, the SBP reported a $17 million increase, taking its reserves to approximately $17.10 billion.
With another $19 million added in the latest week, SBP reserves have risen by about $36 million over two consecutive weeks.
The increase, however, remains relatively small compared with the overall reserve stock. Rather than representing a major buildup, the latest figures point toward a period of relative stability in the country’s official foreign exchange position.
Why the $17 billion level matters
Pakistan’s foreign exchange reserves are closely monitored because they form an important buffer against external financial pressures.
A stronger reserve position can provide greater room to meet foreign-currency obligations and support payments linked to imports and other international transactions. Conversely, a sustained decline can increase pressure on the country’s external account and currency market.
The latest figures therefore offer a cautiously positive signal: SBP reserves remain above $17 billion, while total liquid reserves have stayed above $22 billion.
The bigger test, however, is whether the gradual improvement can continue in the weeks and months ahead.
For now, Pakistan’s reserve position is improving in small steps rather than making a dramatic jump, making the direction of the next few weekly readings more important than the latest $19 million increase alone.
