Total liquid reserves increase by $110 million in a week, while SBP-held reserves climb to $21.56 billion as import cover improves to 3.93 months.
Pakistan’s foreign exchange reserves continued to increase during the week ended October 30, 2026, with total liquid reserves rising by $110 million to $26.86 billion, compared with $26.75 billion a week earlier.
According to a report by Topline Securities, reserves held by the State Bank of Pakistan (SBP) increased by approximately $40 million, or 0.2%, to $21.56 billion on October 30, compared with $21.52 billion on October 23.
Meanwhile, foreign exchange reserves held by commercial banks rose by $71 million to $5.30 billion from $5.23 billion during the same period. The increase in commercial banks’ holdings also contributed to the improvement in the country’s overall liquid foreign exchange reserves.
SBP reserves increase by $3.18 billion since June
The latest figures highlight significant growth in Pakistan’s foreign exchange reserves during the current fiscal year.
According to Topline Securities, SBP-held reserves have increased by $3.18 billion since June 2026, rising from $18.38 billion to $21.56 billion. Commercial banks’ reserves have also recorded an increase of $446 million over the same period.
Consequently, total liquid foreign exchange reserves have grown by $3.63 billion since June, reaching $26.86 billion compared with $23.23 billion at the end of the month.
On a calendar-year basis, Pakistan’s total foreign exchange reserves have increased by $5.85 billion compared with December 2025, when they stood at $21.01 billion.
The improvement reflects a stronger external financial position, although maintaining reserve growth remains important for meeting external obligations and supporting economic stability.
Pakistan’s import cover improves to 3.93 months
Pakistan’s import cover, which measures how long the country can finance its imports using available foreign exchange reserves, also improved during the reporting period.
The latest data shows that import cover increased to 3.93 months as of October 30, compared with 3.92 months a week earlier.
The indicator has improved considerably since June 2026, when it stood at 3.26 months. In December 2025, Pakistan’s import cover was recorded at 2.76 months.
The increase indicates an improvement in the country’s capacity to finance imports through its available reserves. However, sustained growth will remain important for managing import payments, meeting upcoming debt repayments and maintaining external sector stability.
The latest figures show that both SBP-held and total liquid foreign exchange reserves have maintained an upward trend during the current fiscal year, strengthening Pakistan’s overall reserve position.