Karachi, January 29, 2026 — Pakistan’s total liquid foreign exchange reserves posted a modest increase of $35 million during the past week, according to official figures released by the State Bank of Pakistan (SBP) on Thursday.
The improvement offers temporary relief to the country’s external account amid persistent pressures from rising imports and debt obligations.
As per SBP data, Pakistan’s total foreign exchange reserves stood at $21.293 billion as of January 23, 2026, compared to $21.258 billion recorded a week earlier. The central bank’s own reserves increased by $13 million, while reserves held by commercial banks rose by $22 million during the same period.
Over the past several weeks, SBP has managed to keep the country’s reserves relatively stable in an effort to support the external sector and maintain confidence in the foreign exchange market. However, economists caution that widening current account and trade deficits could exert renewed pressure on reserve levels in the coming weeks.
Experts emphasize that strengthening foreign exchange reserves remains crucial to meeting Pakistan’s growing external payment requirements, especially as economic activity shows signs of gradual recovery. Higher exports, sustained inflows, and improved foreign investment are seen as key to building a stronger reserve buffer.
Foreign Exchange Reserves Position
(Week Ended January 23, 2026)
| Forex Reserves | January 23, 2026 | January 16, 2026 | Change |
| Total Reserves | $21,293 million | $21,258 million | +$35 million |
| SBP Reserves | $16,101 million | $16,088 million | +$13 million |
| Commercial Banks | $5,192 million | $5,170 million | +$22 million |