Pakistan's gold reserves fall to $8bn as of June

July 22, 2026 (MLN): Pakistan's gold reserves, which include gold deposits and swapped gold, stood at $8.39bn as of June 2026, down 11.4% from $9.47 billion in May, even as they remained 22.6% higher than the $6.84 billion recorded in June 2025.

According to the monthly data released by the State Bank of Pakistan (SBP), total SBP reserves, which include the impact of forward and swap obligations, rose to $18.5bn in June compared to $17.27bn in the previous month.

This translates to an increase of $1.23bn or 7.1 % MoM, and $3.86bn or 26.4 % on a yearly basis.

Net reserves held by SBP, which exclude forward and swap commitments, climbed to $18.38bn against $17.19bn a month earlier, marking a rise of $1.19bn or 6.9 % MoM and $3.87bn or 26.7 % YoY.

Nostro balances, the largest component of SBP's reserves, were recorded at $18.08bn as against $16.89bn held a month earlier, depicting a rise of $1.19bn or 7 %. Compared to June 2025, nostro balances were higher by $3.6bn or 24.9 %.

SDR holdings, meanwhile, amounted to $296.67m, down $2.67m or 0.9 % from $299.34m the previous month, though sharply higher than the $25.97m recorded a year earlier.

The reserve position with the IMF stood at $0.1615m, marginally lower than $0.1628m a month earlier.

ACU balances net rose to $48.03m from $9.7m in May, up $38.33m or over four-fold MoM, but down $11.76m or 19.7 % from a year earlier.

On the commercial banks' side, net reserves with banks eased to $4.86bn from $4.92bn a month earlier, a decline of $62.8m or 1.3 %, though still $94m or 2 % higher than June 2025.

Total banks' reserves fell more sharply to $2.5bn from $2.92bn in May, down $417.15m or 14.3 % MoM.

Within this, FE-25 deposits held steady at $6.78bn, up marginally by $18.08m or 0.3 % MoM.

 Trade finance balances rose to $1.92bn from $1.84bn, an increase of $80.88m or 4.4 %, but remained $302.72m or 13.6 % lower than a year earlier.

Trade nostro balances swung to a negative $43.53m in June from a positive $224.9m in May, a decline of $268.42m.

As a result, Pakistan's total liquid FX reserves stood at $23.23bn as of end-June 2026, up $1.12bn or 5.1 % from $22.11bn in May, and higher by $3.96bn or 20.6 % from $19.27bn a year earlier.

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