Pakistan’s FX reserves rise to $18.4bn in FY26

July 03, 2026 (MLN): Pakistan’s total foreign exchange reserves climbed to $18.4bn by the end of fiscal year 2025-26, marking an increase of approximately $5.5bn from $13bn recorded a year earlier, reflecting a significant improvement in the country’s external liquidity position.

During the press briefing today, the State Bank of Pakistan (SBP) Governor Jameel Ahmad said the buildup in foreign exchange reserves has eased foreign currency liquidity constraints, facilitating the normalization of imports while ensuring the timely repayment of the country’s external debt obligations.

The central bank also highlighted a sharp reduction in its forward foreign exchange liabilities. These obligations, which stood at nearly $5.8bn at the beginning of 2023, declined substantially to around $950m by the end of June 2026, falling below the $1 billion mark.

Governor Jameel Ahmad said the improvement in the country's reserve position and the reduction in forward liabilities reflect strengthening external sector fundamentals and prudent reserve management by the central bank.

To further improve the quality of economic reporting, the SBP governor declared that the central bank will launch specialized capacity-building workshops for financial journalists.

The initiative aims to enhance journalists’ understanding of central bank policies, monetary developments, and key macroeconomic indicators, enabling more accurate, contextualized, and insightful financial reporting.

SBP Governor also said the central bank has communicated Pakistan's improved foreign exchange reserves and robust remittance performance to a credit rating agency, adding that these positive macroeconomic developments are expected to support an improved sovereign rating by S&P Global.

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