SBP Reserves Rise $38.9 Million to $21.439 Billion in September 25 Week
SBP reserves September 2026 data shows a modest weekly gain: the State Bank of Pakistan’s foreign exchange reserves rose by $38.9 million during the week ended September 25, 2026, reaching $21.439 billion, up from $21.400 billion a week earlier.
The central bank’s weekly figures keep the SBP’s holdings above the $21 billion mark, a level watched closely as a cushion for imports and external payments.
SBP reserves September 2026: the numbers
| Measure | Sept 25, 2026 | Change over week |
|---|---|---|
| SBP reserves | $21.439 billion | +$38.9 million |
| Commercial bank reserves | $5.332 billion | −$78.6 million |
| Total liquid reserves | $26.771 billion | −$39.7 million |
The country’s total liquid foreign reserves stood at $26.771 billion as of September 25, down by $39.7 million over the week. This includes $21.439 billion held by the SBP and $5.332 billion maintained by commercial banks. Reserves with commercial banks fell by $78.6 million compared to a week earlier.
Why the numbers moved in opposite directions
The SBP’s own holdings edged up while total reserves slipped, which means scheduled bank deposits and private-sector flows pulled down the commercial side faster than the central bank’s inflows added to it. Weekly moves of this size usually reflect routine items such as debt servicing, government payments and the timing of export receipts.
Import cover holds above three months
The current dollar reserves can cover imports for 3.04 months. The three-month mark is a commonly used benchmark for external comfort, and Pakistan has spent long stretches below it in recent years. Holding above it matters for market confidence, especially as the government manages external debt payments through the fiscal year.
What to watch next
The market will now watch whether the SBP can build on this gain or whether the outflows that pulled commercial reserves lower continue. The central bank’s own activity in the interbank market, along with inflows from remittances and export proceeds, will decide the direction of the next few weekly readings.
FAQs
How much did SBP reserves rise in the week ended September 25, 2026?
They rose by $38.9 million to $21.439 billion, up from $21.400 billion a week earlier.
What are Pakistan’s total liquid foreign reserves?
They stood at $26.771 billion as of September 25, 2026, comprising $21.439 billion with the SBP and $5.332 billion with commercial banks.
How many months of imports can the reserves cover?
The current dollar reserves can cover imports for 3.04 months.
