Money supply nears Rs45tr as of Oct

November 25, 2025 (MLN): The total money supply circulating within the economy till October 2025 has been recorded at Rs44.9 trillion, according to provisional accounts on Monetary Aggregates for the month, maintained by the State Bank of Pakistan (SBP).

The money circulating within the economy until September 2025 was Rs44.84tr, whereas in the month of October of last year, the figure was Rs39.93tr.

This means that the money supply has risen by 0.14% MoM while, on a year-on-year basis, it has jumped by 12.45% YoY.

Having broken down the overall money supply into broad categories, the SBP data shows that Rs10.66tr were circulated as notes while Rs24.41tr accounted for transferable deposits, which comprise all deposits that are exchangeable on demand at par without penalty/restriction.

The currency circulated as notes, which have been high in Pakistan relative to other developed and emerging economies because the high informal economy rose by over 1.75% MoM, while it rose by 19.42% over the year.

This reflects higher cash withdrawals by depositors to meet needs amid high inflation.

Apart from this, other deposits constituted Rs6.33tr in October 2025, down by 0.47% MoM and up 8.3% YoY.

Other deposits represent all claims other than transferable deposits in national or foreign currency that are represented by evidence of deposits.

Meanwhile, coins in circulation stood at Rs9.33 billion in October 2025 compared to Rs9.32bn in the previous month and Rs9.09bn in October 2024.

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