Karachi, February 6, 2026 – The SBP said on Friday that Pakistan’s total forex reserves stood at $21.339 billion as of January 31, 2026, compared with $21.293 billion a week earlier, marking an increase of $46 million.
Official data showed that the SBP-held reserves rose by $56 million, reaching $16.157 billion, up from $16.101 billion recorded on January 23, 2026. In contrast, the net reserves of commercial banks declined by $10 million, falling to $5.182 billion from $5.192 billion during the same period.
Weekly Forex Reserves Position
| Description | Forex reserves ended on January 31 | Forex reserves ended on January 23 | Increase / (Decrease) |
| Total | $21.339 billion | $21.293 billion | + $46 million |
| SBP | $16.157 billion | $16.101 billion | + $56 million |
| Banks | $5.182 billion | $5.192 billion | – $10 million |
For the past several months, the central bank has actively managed foreign exchange flows to maintain a stable reserve position, helping cushion the economy against external shocks. Measures such as timely debt repayments, controlled imports, and steady remittance inflows have supported reserve levels.
However, economists stress the need for stronger and sustained inflows, including foreign direct investment, export growth, and multilateral financing, to further strengthen Pakistan’s external sector. They argue that higher reserves are crucial to improving market confidence, ensuring exchange rate stability, and meeting upcoming external obligations.