SBP Reserves Rise to $21.57 Billion in Fourth Weekly Gain
SBP reserves rose by $11 million to $21.57 billion during the week ended November 6, 2026, marking the fourth weekly gain in a row.
ProPakistani reported that the central bank’s reserves reached $21,573 million, continuing a steady climb that has now stretched over a month. The rise is small in absolute terms, but the run of four straight weekly increases points to a steadier external position after a difficult period for the country’s foreign exchange buffer.
SBP reserves and the wider picture
The country’s total liquid foreign reserves fell by $26 million to $26.839 billion as of November 6. The total includes $21.57 billion held by the SBP and $5.2666 billion in net reserves held by commercial banks.
Commercial bank reserves were down $37 million from $5.303233 billion a week earlier, which offset the SBP’s gain and pulled the overall figure slightly lower. The SBP’s own holdings, however, moved in the right direction for the fourth week running.
The central bank expects its reserves to reach $23 billion by December 2026 and $25 billion by June 2027. If that path holds, the SBP would add about $3.4 billion to its reserves over the next seven months.
Why the reserves matter for Pakistan
Foreign exchange reserves are the country’s cushion against external shocks. They pay for imports, service foreign debt and give the central bank room to steady the rupee when markets turn volatile. When reserves fall, the pressure shows up quickly in the currency and in the cost of imports.
Finance Minister Muhammad Aurangzeb told investors this week that the reserves now cover more than three months of imports. That level of cover gives the government more breathing space than it had a year ago, when reserves were far thinner and the country was negotiating its way through a balance of payments squeeze.
The reserves build-up has been helped by strong remittances from overseas Pakistanis. Remittances reached $3.89 billion in October, and they nearly covered the entire trade deficit in recent months. Money sent home by workers abroad has become one of the most reliable sources of foreign exchange for the country.
Debt payments remain a burden
The improving reserves picture sits alongside a heavy debt burden. The government paid $3.24 billion in foreign debt interest in FY26, and Pakistan’s external debt stood at $135 billion according to the World Bank.
That is why the SBP’s targets matter. Reaching $23 billion by December and $25 billion by June would give the central bank a larger buffer to meet debt payments without draining reserves. It would also strengthen Pakistan’s position in talks with lenders and creditors, who watch the reserve level closely as a sign of the country’s ability to pay.
What to watch next
The next weekly reserves data will show whether the run of gains extends to a fifth week. The December target of $23 billion is the more immediate test, and it will depend on remittance flows, export earnings and the timing of foreign inflows.
For households and businesses, the practical effect of rising reserves is stability. A stronger reserve position reduces the risk of sudden rupee weakness, which feeds directly into fuel, food and import prices. The SBP’s steady climb, even in small weekly steps, is therefore good news for price stability as well as for the country’s external accounts.
Frequently asked questions
How much are the SBP reserves now?
The SBP’s foreign exchange reserves stood at $21.57 billion in the week ended November 6, 2026, up $11 million from the previous week.
What are the total liquid foreign reserves?
Total liquid foreign reserves were $26.839 billion as of November 6, including $21.57 billion with the SBP and $5.2666 billion with commercial banks.
What is the SBP’s reserves target?
The central bank expects its reserves to reach $23 billion by December 2026 and $25 billion by June 2027.
