SBP Foreign Exchange Reserves Rise for Fourth Straight Week to $21.57 Billion

The State Bank of Pakistan's foreign exchange reserves rose by $11 million to $21.57 billion in the week ended November 6, 2026, according to data released by the central bank. The increase marks the fourth consecutive weekly gain for the SBP's holdings, a sustained upward trend that offers some reassurance about the country's external position.

Despite the improvement at the central bank, the country's total liquid foreign reserves slipped by $26 million to $26.839 billion over the same week. The total comprises $21.57 billion held by the SBP and $5.2666 billion in net reserves held by commercial banks.

Reserves at commercial banks fell by $26 million from $5.303 billion a week earlier, more than offsetting the gain recorded by the central bank. The split highlights how movements in bank-held reserves can swing the headline national figure even when the SBP's own stock is rising.

Looking ahead, the central bank expects its reserves to reach $23 billion by December 2026 and $25 billion by June 2027. Those projections, if met, would represent a steady build-up in official holdings over the coming months and would strengthen the country's ability to meet external obligations.

Foreign exchange reserves are a key indicator of a country's capacity to cover imports and service external debt, and weekly SBP data is closely watched by markets, investors and policymakers. The latest reading suggests continued gradual accumulation at the central bank, even as the broader liquid reserves picture remains sensitive to changes in commercial bank holdings.