Karachi, January 22, 2026 — Pakistan’s total foreign exchange (forex) reserves recorded a marginal increase, reaching $21.258 billion for the week ended January 16, 2026, according to weekly data released by the State Bank of Pakistan (SBP).
The country’s total liquid forex reserves rose by $10 million compared to $21.248 billion reported in the previous week ended January 9, reflecting relative stability in the external account position. The increase was primarily driven by an improvement in the SBP’s official reserves.
Official foreign exchange reserves held by the SBP increased by $16 million on a weekly basis to stand at $16.088 billion, up from $16.072 billion a week earlier. The central bank has successfully maintained its reserves above the $16 billion mark, underscoring its continued efforts to support macroeconomic stability and manage external sector pressures.
In contrast, foreign exchange reserves held by commercial banks witnessed a slight decline of $6 million, falling to $5.17 billion from $5.176 billion during the same period.
Economic analysts note that while the current level of reserves provides short-term comfort, Pakistan will require substantial foreign inflows in the coming months to meet rising external payment obligations. They caution that import demand could accelerate alongside economic recovery, potentially increasing pressure on the balance of payments.
Experts emphasize the importance of sustained export growth, remittances, and external financing to ensure long-term stability in the country’s forex reserves position.
Forex Reserves Breakdown (Weekly Comparison)
| Category | Jan 16, 2026 ($ bn) | Jan 9, 2026 ($ bn) | Weekly Change |
| Total Liquid Forex Reserves | 21.258 | 21.248 | +0.010 |
| SBP Official Reserves | 16.088 | 16.072 | +0.016 |
| Commercial Banks Reserves | 5.170 | 5.176 | −0.006 |