Pakistan’s foreign exchange reserves have shown a noticeable improvement, supported by steady dollar purchases by the State Bank over the past year. The central bank has bought nearly $6.9 billion from the market, helping push reserves to more stable levels and offering some relief to an economy that has faced persistent external pressure.
According to official sources, the State Bank’s reserves have reached $16.37 billion, while total reserves including those held by commercial banks stand at $21.73 billion as of March 19.
The increase reflects a consistent effort by the central bank to rebuild buffers and manage currency volatility.
A significant portion of these purchases came in the latter part of 2025. More than $1 billion was bought in December alone, following $620 million in November.
The most substantial accumulation was recorded during September and October, when over $2 billion was added to reserves.
The strategy appears to be part of a broader attempt to stabilize the external account after a period marked by declining reserves, import restrictions, and pressure on the rupee. By stepping into the market and buying dollars when inflows improved, the State Bank has been able to gradually strengthen its position.
