The State Bank of Pakistan reported a continued upward trajectory in the nation’s financial buffers, with total liquid foreign reserves reaching $21.7 billion for the week ending March 13, 2026. This performance marks a weekly increase of $105.9 million, representing a 0.49 percent growth compared to the previous week. The data highlights a resilient external sector despite global market volatility, as both the central bank and private commercial lenders recorded gains in their foreign currency holdings.
Specific data released by the SBP on Thursday indicates that the foreign exchange reserves held directly by the central bank rose by $12.6 million, bringing the total to $16.35 billion. While this weekly increase was a modest 0.08 percent, the broader fiscal year performance tells a more robust story of recovery. Since the start of the current fiscal year, SBP-held reserves have surged by $1.85 billion, an impressive 12.77 percent increase that underscores improved capital inflows and better management of external payments.
Commercial banks also played a significant role in the weekly boost, with their net foreign reserves rising by $93.3 million to reach $5.35 billion. This 1.77 percent weekly jump reflects a healthy level of liquidity within the private banking sector. When viewed on an annual basis, the progress is even more stark; compared to February 2025, the total reserves held by commercial banks have climbed by over $746 million, indicating a significantly stronger position for the country’s financial intermediaries compared to the previous year.
The long-term recovery of Pakistan’s reserves remains a highlight of the 2026 economic landscape. Monthly data for February 2026 showed that SBP reserves had already climbed to $16.30 billion from $16.16 billion in January. More importantly, when compared to the $11.25 billion held in February 2025, the central bank’s reserves have grown by a massive $5.05 billion, or nearly 45 percent, in just twelve months. This year-on-year expansion of $5.80 billion in total liquid reserves provides the government with a much-needed cushion against international energy price shocks and currency fluctuations.
As the current calendar year progresses, the steady accretion of $298 million since January 1st suggests a stabilizing trend for the Pakistani rupee and the broader economy. With total liquid reserves now standing 37.64 percent higher than they were at this time last year, the country is better positioned to navigate the complexities of the global digital finance era and meet its international obligations. The consistent growth in these holdings remains a critical metric for international investors and domestic stakeholders monitoring the health of Pakistan’s state banks and its overall economic sovereignty.
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