Karachi: Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by USD 21 million to USD 14.4 billion during the week ending September 26, the central bank said on Thursday.
The country’s total liquid reserves stood at USD 19.797 billion, up USD 3 million from the previous week. However, reserves held by commercial banks slipped by USD 18 million to USD 5.396 billion.
The latest figures came as Pakistan successfully repaid a USD 500 million Eurobond that matured on September 30. Issued in 2015 with a 10-year tenor, the repayment was highlighted by the government as evidence of budgetary discipline, stronger reserves, improving credit ratings, and a more sustainable debt profile.
The SBP purchased USD 7.7 billion from the interbank market in the fiscal year ending June 2024 to shore up reserves and meet external debt obligations. This included USD 502 million bought in June alone. These interventions, coupled with debt repayments, helped boost reserves from USD 9.4 billion in June 2024 to USD 14.5 billion by the end of September.
Pakistan faces external debt servicing of around USD 26 billion in FY26. Of this, USD 16 billion is expected to be rolled over or refinanced, while net repayments are projected at USD 10–11 billion.
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