KARACHI: Pakistan’s total foreign exchange (forex) reserves remained close to the $20 billion mark during the week ended July 11, 2025, as per the latest data released by the State Bank of Pakistan (SBP).
According to the SBP report, the country’s total forex reserves stood at $19.957 billion, marking a marginal weekly decline of $72 million compared to $20.029 billion recorded on July 4, 2025. This slight drop was mainly attributed to a notable fall in the reserves maintained by commercial banks.
The forex reserves held by the SBP actually showed a modest increase of $24 million. As of July 11, the SBP’s reserves stood at $14.526 billion, up from $14.502 billion a week earlier. This reflects the central bank’s efforts to stabilize the external account amid fluctuating international market conditions and ongoing reforms aimed at shoring up the economy.
However, the reserves maintained by commercial banks declined significantly by $96 million. As of July 11, these reserves were recorded at $5.431 billion, down from $5.527 billion in the previous week. Analysts attribute this dip to foreign outflows and higher import-related payments by private businesses.
Experts suggest that a rebound in Pakistan’s forex reserves could be expected in the coming weeks due to anticipated inflows from multilateral lenders and friendly countries. Additionally, rising export receipts and steady worker remittances are expected to play a critical role in enhancing the country’s forex reserves position.
Improving macroeconomic indicators and the government’s fiscal discipline will also be instrumental in building stronger reserves buffers. The SBP continues to monitor the forex market closely and remains committed to maintaining adequate reserves to support the national currency and meet external obligations.
Overall, while the total forex reserves have dipped slightly, the increase in SBP’s holdings is seen as a positive sign. The government and the SBP are optimistic that sustained economic inflows will help keep forex reserves stable and close to or above the $20 billion threshold in the near term.
