Karachi, July 24, 2025 – Pakistan’s foreign exchange (forex) reserves witnessed a marginal decline, slipping to $19.92 billion by the week ending July 18, 2025, according to the latest data released by the State Bank of Pakistan (SBP) on Thursday.
The total forex reserves dropped by $39 million during the week, falling from $19.957 billion on July 11 to $19.918 billion by July 18, 2025. This slight dip reflects ongoing fluctuations in external payments and inflows, though the reserves continue to remain at a relatively stable level.
The central bank’s own forex reserves saw a decrease of $69 million, settling at $14.457 billion compared to $14.526 billion in the preceding week. Analysts attribute this reduction to external debt servicing and other routine outflows.
On the other hand, the forex reserves held by commercial banks registered a positive trend. These reserves rose by $30 million, reaching $5.461 billion by the week’s close, up from $5.431 billion on July 11. This increase indicates strengthened foreign currency holdings in the private banking sector, likely supported by remittance inflows and export proceeds.
Despite the minor drop, Pakistan has maintained a reasonably steady forex reserves position as the fiscal year 2025-26 begins. This stability is largely credited to coordinated efforts between the SBP and the Ministry of Finance, which have implemented prudent forex management policies in the face of global economic pressures.
Maintaining a sustainable level of forex reserves remains a top priority for policymakers, especially as Pakistan navigates international financial obligations and aims to secure investor confidence in the coming quarters.