Karachi, December 26, 2025 – Pakistan’s net foreign exchange (forex) reserves witnessed a modest decline of $66 million on a weekly basis, according to the latest data released by the State Bank of Pakistan (SBP) on Friday. Despite the drop, analysts believe the overall reserves position remains stable amid ongoing external payment pressures.
The SBP data showed that the country’s total net forex reserves stood at $21.023 billion as of December 19, 2025, compared to $21.089 billion recorded a week earlier on December 12, 2025. The marginal decrease reflects routine external debt repayments and import-related outflows during the period.
In contrast, the official foreign exchange reserves held by the SBP increased by $16 million, reaching $15.903 billion by the week ended December 19, 2025. This was up from $15.887 billion in the previous week, indicating continued support from official inflows and prudent reserve management by the central bank.
However, the foreign exchange reserves of commercial banks declined by $82 million, falling to $5.12 billion from $5.202 billion a week earlier. Market observers attributed the reduction to settlement of trade payments and routine banking transactions.
Financial analysts noted that the SBP has successfully managed to keep Pakistan’s overall forex reserves above the critical $21 billion mark, despite external financing obligations. They highlighted that foreign inflows of around $1.2 billion received earlier this month played a key role in strengthening the reserves position and supporting the country’s balance of payments stability.
Experts added that maintaining adequate forex reserves remains crucial for exchange rate stability, import financing, and sustaining investor confidence in Pakistan’s economy amid global financial challenges.