Money supply reaches over Rs45tr as of November

December 27, 2025 (MLN): The total money supply circulating within the economy till November 2025 has been recorded at Rs45.19 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 October 2025 was Rs44.9tr whereas, in the month of November of last year, the figure was Rs40.09tr.

This means that the money supply has risen by 0.64% MoM while, on a year-on-year basis, it has jumped by 12.74% YoY.

Having broken down the overall money supply into broad categories, the SBP data shows that Rs10.8tr were circulated as notes while Rs24.34tr 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 of the high informal economy rose by over 1.27% MoM while rose by 19.35% over the year.

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

Apart from this, other deposits constituted Rs6.47tr in November 2025, up by 2.17% MoM and up 10.42% 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 Rs9.32 billion in November 2025 compared to Rs9.33bn in the previous month and Rs9.12bn in November 2024.

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