M2 rises by Rs778bn in a week

June 23, 2026 (MLN): Broad money (M2), the most widely used measure of money supply in Pakistan, rose by Rs777.99 billion WoW to Rs44.23 trillion as of June 12, 2026, data released by State Bank of Pakistan (SBP) showed.

When compared to June 2026, M2 has risen by Rs3.73tr, compared to Rs40.51tr recorded by the end of the last fiscal year.

Breaking down the components of M2, the currency in circulation within the economy till June 12, 2026 has fallen by Rs86.26bn WoW to Rs12.12tr.

While in the current fiscal year, the currency in circulation has risen by Rs1.49tr as compared to Rs10.63tr recorded at the end of June 2026.

Currency in circulation as a percentage of M2 stood at 27.4% compared to 28.09% a week before and 26.25% on June 2024.

Total deposits held with banks were recorded at Rs32.07tr, depicting an increase of Rs865.59bn WoW and an increase of Rs2.25tr FYTD.

To note, the deposits held with banks exclude inter-bank deposits, deposits of governments, and foreign constituents.

Currency in circulation represents the balance of banknotes and coins in circulation, held by the general public and financial institutions.

In Pakistan, M2 is the most widely used definition of broad money.

From liability side, it is measured as a sum of currency in circulation; total deposits of non-government sector, including residents’ foreign currency deposits; and other deposits with SBP.

And from asset side, M2 is a sum of net domestic assets and net foreign assets of the banking system (i.e. SBP and scheduled banks).

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