Overview
- The State Bank of Pakistan reported that in the week ended July 3, 2026 its FX reserves rose by $1.944 billion to $18.471 billion after Government of Pakistan inflows were realised.
- Pakistan’s total liquid foreign reserves — the sum of SBP holdings and commercial-bank balances — stood at about $23.99 billion with commercial banks holding roughly $5.52 billion.
- The SBP says it met its FY26 reserves target and recorded these gains despite roughly $9 billion in external debt repayments during the last quarter of FY26.
- Earlier weeks’ increases were driven by IMF disbursements under the EFF and RSF, multilateral financing and proceeds from Panda and Eurobond issuances alongside higher remittances.
- Regional capital flows were volatile in the same reporting week, with India’s reserves jumping by $7.26 billion, a pattern that underlines how timing of inflows and central-bank actions can quickly shift reserve levels and affect import and exchange-rate pressure.