Overview
- The State Bank of Pakistan reported a $39 million rise in central-bank reserves for the week ended Sept. 25, 2026, lifting SBP-held reserves to about $21.439 billion.
- Total liquid foreign reserves stood near $26.77–$26.8 billion on Sept. 25, with commercial banks holding roughly $5.33 billion in net foreign assets.
- The latest small gain came after a roughly $3.06 billion jump the prior week that was largely driven by proceeds from Pakistan’s Eurobond issuance.
- In the same reporting week, the Reserve Bank of India said India’s reserves fell $18.34 billion to $747.56 billion, with declines in foreign-currency assets, gold, SDRs and the IMF position.
- Because reserves are used to pay external debt and cushion the currency, this stop-start pattern of large one-off inflows and routine outflows raises the risk of renewed volatility in import costs, exchange rates and short-term market sentiment.