Pakistan’s central bank reported a $110 million weekly rise in foreign exchange reserves, taking total holdings to a record $26.864 billion
Pakistan’s foreign exchange reserves rose by $110 million in a week to a record $26.864 billion, according to the State Bank of Pakistan (SBP), even as the West Asia conflict continues to disrupt global energy markets and push up oil prices. In a statement on Thursday, the central bank said the country’s total reserves had increased from $26.754 billion in the previous week. The SBP said Pakistan’s reserves had increased by $5 billion since the conflict began in February. Its own holdings rose from $16.568 billion in February to $21.568 billion as of October 30. Its trade deficit stood at $14.6 billion in the first four months of FY27, with imports at $26 billion against exports of $11.4 billion.
The central bank said the improved reserve position had helped stabilise the exchange rate and provided exporters with confidence to repatriate their earnings without delay. However, Pakistan continues to face a substantial trade gap. Financial analysts have attributed the stability of the Pakistani rupee and the improvement in foreign exchange availability largely to rising remittances.