Pakistan’s total liquid foreign exchange reserves reached $21.25 billion as of January 9, 2026, official data from the State Bank of Pakistan (SBP) shows. This figure combines reserves held by the central bank and those held by commercial banks operating in the country.
The SBP’s own reserves stood at $16.07 billion, the highest it has been since FY21, while commercial banks held $5.18 billion in net foreign exchange assets, according to the SBP’s weekly foreign exchange reserve bulletin. The
During the reporting week, the SBP’s reserves rose modestly, increasing by $16 million since last week, indicating continued accumulation of foreign currency assets as part of the central bank’s reserve management strategy. This follows recent trends of reserve growth driven by higher remittance inflows and central bank operations in the foreign exchange market.
Holding stronger reserves is crucial for debt servicing and import stability, particularly given Pakistan’s external financing obligations. The country paid $26 Billion in debt servicing in the Financial Year 2025 and will have to pay approximately the same amount in Financial Year 2026.
Foreign exchange reserves represent the stockpile of foreign currencies held by a country’s central bank and commercial banks to support external payments, manage exchange rate stability and meet international obligations. For Pakistan, these reserves are vital for financing imports, servicing external debt and maintaining confidence in the financial system.
