KARACHI – Pakistan’s foreign exchange reserves jumped to $26.86 billion, as fresh inflows strengthen State Bank of Pakistan’s (SBP) dollar holdings and push the country’s external liquidity position to one of its strongest levels in recent months.
The latest weekly figures released by central bank reveal that Pakistan added more than $110 million to its total liquid foreign currency reserves during the week ending October 30, 2026, continuing an upward trend that has gathered momentum in recent months.
SBP’s foreign currency reserves increased by $39 million, reaching $21.561 billion, compared with $21.522 billion in the preceding week. Commercial banks also reported a notable improvement, with their net foreign exchange holdings increasing by nearly $71 million to $5.303 billion, up from $5.233 billion recorded on October 23.
Together, these gains lifted Pakistan’s total liquid foreign exchange reserves from $26.754 billion to $26.864 billion, bringing the country closer to the psychologically significant $27 billion mark.
The latest increase comes amid a broader recovery in Pakistan’s foreign currency position, with the central bank accumulating billions of dollars over the past four months. At the end of June 2026, SBP-held reserves stood at approximately $18.38 billion. By October 30, they had increased to $21.56 billion, reflecting a gain of around $3.18 billion.
With latest figures showing continued accumulation of foreign currency, attention is turning toward the ambitious reserve targets previously outlined by SBP Governor Jameel Ahmed.
The central bank held approximately $14.50 billion in reserves at the end of October last year. That figure has now risen to $21.56 billion, representing an increase of about 49%. Pakistan’s combined liquid reserves have recorded a similarly substantial expansion, rising from $19.17 billion in October 2025 to nearly $26.86 billion in the latest weekly report.
The increase amounts to approximately $7.69 billion, or around 40%, over the period. After entering 2026 with total reserves of approximately $20.84 billion, Pakistan saw modest increases during the opening months of the year before reserves slipped in April.
The country’s foreign currency position subsequently improved in May and June, followed by another decline in July. August brought a limited recovery, while September delivered a much larger increase that lifted total reserves above $26 billion.
Pakistan’s Foreign Exchange Reserves
| Period | SBP reserves | Commercial banks | Total reserves |
|---|---|---|---|
| Oct 2025 | $14.503bn | $4.671bn | $19.174bn |
| Nov 2025 | $14.589bn | $4.547bn | $19.136bn |
| Dec 2025 | $16.054bn | $4.785bn | $20.838bn |
| Jan 2026 | $16.157bn | $4.815bn | $20.972bn |
| Feb 2026 | $16.299bn | $4.762bn | $21.060bn |
| Mar 2026 | $16.382bn | $4.950bn | $21.332bn |
| Apr 2026 | $15.851bn | $4.953bn | $20.804bn |
| May 2026 | $17.189bn | $4.920bn | $22.110bn |
| Jun 2026 | $18.378bn | $4.829bn | $23.208bn |
| Jul 2026 | $17.043bn | $4.849bn | $21.892bn |
| Aug 2026 | $17.153bn | $4.879bn | $22.032bn |
| Sep 2026 | $21.511bn | $4.826bn | $26.337bn |
| Oct 30, 2026 | $21.561bn | $5.303bn | $26.865bn |
SBP Data
