Pakistan’s broad money (M2) stood at Rs39.39 trillion as of August 15, 2025, reflecting a slight decrease of 0.2% week-on-week (WoW), according to data from the State Bank of Pakistan (SBP) and compiled by Arif Habib Limited (AHL).Â
M2, which is a key indicator of liquidity in the economy, includes currency in circulation, demand deposits, and time deposits with banks, providing insights into the availability of money and its potential impact on inflation and economic activity.
Of the total M2, currency in circulation amounted to Rs10.8 trillion, or 27.4% of the total, slightly lower than the previous week.Â
Meanwhile, total bank deposits remained stable at Rs28.6 trillion, accounting for the majority share of 72%. Deposits with the SBP rose modestly by Rs50 billion.
Year-to-date (FY26TD), broad money has contracted by 3.3%, driven by tight liquidity conditions, cautious lending, and fiscal consolidation. Bank deposits have fallen by 5% since June, while currency in circulation has increased by 1.4% during the same period.
On a calendar year-to-date (CYTD) basis, the rupee has depreciated by 1.17%, but it has appreciated by 0.68% in the current fiscal year to date, according to Ismail Iqbal Securities.
