SBP Reserves Bounce Back as Gold Prices Soar on Global Market Rally
The State Bank of Pakistan (SBP) has seen its foreign exchange reserves increase by $19 million to reach $17.12 billion as of August 28, 2026. This marks a slight recovery from June's peak of $18.38 billion, which was impacted by external debt payments.
The net foreign reserves with commercial banks decreased by $78.8 million to $5.41 billion during the same period. As a result, Pakistan's total liquid foreign reserves dropped by $59.5 million to $22.53 billion.
The Pakistani rupee has shown some stability, closing at 277.42 against the US dollar on Thursday, gaining Rs0.03 from Wednesday's close of 277.45.
In related news, gold prices have surged in Pakistan after rising over 2% globally due to reduced expectations of a September US rate hike. Fed Governor Christopher Waller hinted that recent inflation progress may support keeping rates unchanged.