Pakistan Foreign Exchange Reserves Rise to $26.75 Billion

The State Bank of Pakistan reported that total liquid foreign exchange reserves reached $26.754 billion as of October 23, 2026. The central bank's specific holdings rose by $33 million to $21.522 billion, representing the second consecutive weekly increase. Conversely, net reserves held by commercial banks decreased to $5.233 billion from $5.344 billion the previous week.

Reserve growth was driven by inflows from commercial loans, international bond issuances—including Panda and Eurobonds—and disbursements from the International Monetary Fund's Resilience and Sustainability Facility and Extended Fund Facility. Despite these gains, the central bank noted that periodic external debt repayments continue to pressure holdings.

In related market activity, the Pakistani rupee gained Rs0.01 against the US dollar to close at 276.76. While local gold prices remained stable at Rs425,636 per tola, international bullion prices declined following US inflation data that increased expectations for a Federal Reserve rate hike in December.

Governor Jameel Ahmed stated the central bank expects its reserves to reach $23 billion by December 2026 and $25 billion by June 2027.