SBP's FX purchases slow to $667m in March

June 30, 2026 (MLN): SBP purchased $667m from the interbank foreign exchange market in March 2026, according to data released by its Domestic Markets & Monetary Management Department.

The latest figure marked a slowdown from February 2026, when SBP had bought $933m, with March's purchases down nearly $266m from the previous month.

On a year-on-year basis, March's purchases were lower than the $860m recorded in March 2025, a decline of around $193m, suggesting comparatively softer inflow conditions versus the same month last year.

During the first nine months of fiscal year 2026 (July 2025–March 2026), the central bank purchased a cumulative net $6.474 billion from the market, compared with $6.187 billion during the same period of fiscal year 2025 (July 2024–March 2025), an improvement of approximately $287m on a year-on-year basis.

Purchases during FY26 so far have been heavily concentrated in September, October, December and February, each exceeding $1 billion, while July, August and March remained relatively subdued by comparison.

The SBP defines Net FX Intervention as outright and swap purchases of foreign exchange minus outright and swap sales conducted with banks in the interbank market.

Copyright Mettis Link News