SBP Reserves Edge Up to $26.8 Billion, Rupee Holds at 277.01
SBP Reserves Edge Up to $26.8 Billion, Rupee Holds at 277.01
SBP reserves inched higher last week, with the State Bank’s holdings rising $15 million to $21.454 billion in the week ended October 2, 2026. Total liquid reserves stood at $26.797 billion, up from $26.771 billion a week earlier. The figures were released on Thursday on the central bank’s regular weekly schedule.
SBP reserves: the weekly picture
The central bank’s reserves grew despite a $17 million decline in the reserves held by commercial banks, which fell to $5.344 billion. The net increase kept the overall reserve position on its gradual upward path, with the State Bank’s share accounting for the bulk of the country’s liquid foreign exchange.
In the currency market, the rupee closed at 277.01 against the US dollar on Thursday, gaining a paisa from 277.02 a day earlier. The exchange rate has traded in a narrow band in recent weeks as reserves stabilised, and the central bank has avoided sharp interventions.
Gold up, silver down
In the domestic bullion market, gold rose Rs600 per tola to Rs435,036, with the 10-gram rate at Rs372,973. Silver moved the other way, falling Rs120 per tola to Rs6,368. International spot gold traded at $4,122.36 an ounce, up 0.3 per cent, and domestic prices broadly tracked the global trend.
The Monetary Policy Committee expects real GDP growth of 3.5 to 4.5 per cent in the current fiscal year, FY27, a projection that rests in part on steadier external buffers. For now, the reserve position gives policymakers breathing room, though economists will watch whether the weekly gains can be sustained through the quarter.
Why it matters
Reserves near $26.8 billion give the central bank more room to smooth currency swings and cover imports, though the weekly gains remain modest. The steady rupee and firm gold prices reflect cautious sentiment in both the currency and bullion markets, with traders watching the next weekly release for confirmation that the build-up is holding.
Frequently asked questions
How much are Pakistan’s foreign exchange reserves?
Total liquid reserves stood at $26.797 billion in the week ended October 2, 2026, with $21.454 billion held by the State Bank and $5.344 billion with commercial banks.
Where did the rupee close?
The rupee closed at 277.01 per US dollar on Thursday, up a paisa from 277.02.
What are the current gold and silver rates?
Gold rose Rs600 per tola to Rs435,036, while silver fell Rs120 per tola to Rs6,368.
What is the growth outlook?
The Monetary Policy Committee expects real GDP growth of 3.5 to 4.5 per cent in FY27.
