SBP Governor: Pakistan’s FX reserves rise to $18.4bn

Pakistan’s total foreign exchange reserves climbed to $18.4bn by the end of fiscal year 2025-26, marking an increase of approximately $5.5bn from $13bn recorded a year earlier, reflecting a significant improvement in the country’s external liquidity position. Speaking on the development, State Bank of Pakistan (SBP) Governor Jameel Ahmad said the buildup in foreign exchange reserves has eased foreign currency liquidity constraints, facilitating the normalization of imports while ensuring the timely repayment of the country’s external debt obligations. The central bank also highlighted a sharp reduction in its forward foreign exchange liabilities. These obligations, which stood at nearly $5.8bn at the beginning of 2023, declined substantially to around $950m by the end of June 2026, falling below the $1 billion mark.