Money supply reaches around Rs45tr as of July

August 27, 2025 (MLN): The total money supply circulating within the economy till July 2025 has been recorded at Rs44.68 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 June 2025 was Rs45.15tr, whereas in the month of July of last year, the figure was Rs39.16tr. This means that the money supply has fallen by 1.05% MoM while, on a year-on-year basis, it has jumped by 14.08% YoY.

Having broken down the overall money supply into broad categories, the SBP data show that Rs10.64 trillion were circulated as notes, while Rs24.13 trillion 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 0.23% MoM while it rose by 18.88% over the year.

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

Apart from this, other deposits constituted Rs6.43tr in July 2025, up by 4.52% MoM and up 8.5% 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 Rs9.29 billion in July 2025 compared to Rs9.26bn in the previous month and Rs9.45bn in July 2024.

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