Karachi, September 18, 2025 – The State Bank of Pakistan (SBP) on Thursday announced an increase in the country’s foreign exchange (forex) reserves, which rose by $55 million during the latest reporting week.
According to the SBP’s data, Pakistan’s total forex reserves reached $19.736 billion by the week ending September 21, 2025. This marks an improvement from $19.681 billion recorded on September 6, 2025. The increase reflects both higher central bank holdings and gains in commercial bank balances.
The official forex reserves held by the SBP climbed by $21 million, reaching $14.357 billion, compared with $14.336 billion a week earlier. At the same time, reserves maintained by commercial banks expanded by $34 million, rising to $5.379 billion from $5.345 billion.
Economists noted that the overall reserves position is expected to strengthen further in the near term. Pakistan anticipates the disbursement of approximately $1 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF). This inflow is contingent upon a successful program review scheduled for later this month.
Analysts believe that once approved, the IMF tranche will provide much-needed support to the external sector, enhance market confidence, and improve the country’s capacity to manage debt repayments and import financing. With gradual improvements, Pakistan’s forex reserves are expected to maintain a more stable trajectory, offering some relief to policymakers and businesses concerned about balance of payments pressures.