Overview
- The State Bank of Pakistan said its foreign exchange reserves rose by $33 million in the week ended July 17 to $17,258.6 million, taking total liquid reserves to about $22.67 billion.
- Commercial banks held roughly $5.41 billion in net foreign assets, a figure that fell modestly in the latest reporting week and offset part of the central bank’s gain.
- Recent weeks have seen big one-off moves, including a $1.944 billion jump tied to government-related inflows and a prior $1.245 billion fall driven mainly by external debt repayments.
- Analysts say the current reserve stock provides about 2.54 months of import cover, a level that leaves Pakistan vulnerable to large shocks in oil prices or capital flows.
- Regional context highlights the constraint on Pakistan: India’s reserves rose to $676.237 billion in the same reporting week, and global risks such as Middle East tensions could push costs higher or affect investor flows.