Pakistan’s total liquid foreign exchange reserves reach $23.99 billion as central bank holdings strengthen
ISLAMABAD: SBP foreign exchange reserves in July 2026 surged by $1.94 billion, or 11.8%, during the week ended July 3, 2026, supported by the receipt of Government of Pakistan (GoP) inflows, according to data released by the central bank.
The State Bank of Pakistan (SBP) said its foreign exchange reserves increased to $18.47 billion, compared with $16.53 billion recorded in the previous week.
Pakistan’s total liquid foreign exchange reserves stood at $23.99 billion as of July 3, 2026. Of the total reserves, the SBP held $18.47 billion, while commercial banks maintained foreign exchange reserves of $5.52 billion.
Government Inflows Boost Reserves
The central bank attributed the latest increase in SBP foreign exchange reserves in July 2026 to the realisation of Government of Pakistan inflows.
The increase follows a $611 million rise in the previous week, when reserves were supported by inflows from multilateral institutions.
The continued accumulation of reserves reflects improved external financing conditions and stronger foreign exchange inflows, helping strengthen Pakistan’s external sector position.
SBP Expects Further Reserve Growth
Speaking at the concluding session of the Pakistan Banking Summit 2026, SBP Governor Jameel Ahmad said the country’s foreign exchange reserves are expected to reach a record $20.2 billion by December 2026.
He noted that SBP reserves have increased nearly six-fold, rising from less than $3 billion in February 2023 to around $18.4 billion by the end of FY2025-26.
The governor attributed the improvement to stronger external sector management, improved inflows and measures aimed at maintaining economic stability.
Reserves Support Economic Stability
Analysts said the rise in SBP foreign exchange reserves in July 2026 is expected to provide greater support for Pakistan’s exchange rate stability, external debt obligations and investor confidence.
The increase in reserve levels also strengthens the country’s ability to manage external financing requirements and maintain stability in the balance of payments.