Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $19 million to $16.4 billion in the week ended April 3, 2026. The increase comes just before a $1.4 billion external debt repayment that will reflect in next week’s official data.
The SBP reported a marginal weekly gain in reserves, supported by routine inflows and interbank market activity. Total central bank reserves increased from $16.38 billion to $16.40 billion during the period.
Pakistan’s overall liquid foreign reserves also improved, as commercial bank holdings contributed to the uptick.
Foreign Reserves Snapshot (Week ended April 3, 2026):
- SBP reserves: $16.40 billion (+$19 million)
- Commercial bank reserves: $5.49 billion
- Total liquid reserves: $21.89 billion (+$105 million)
The data signals short-term stability in external accounts despite ongoing debt servicing pressures.
The current reserve level does not yet include a major outflow:
- Pakistan repaid $1.4 billion in Eurobond obligations (principal and interest) in early April
- The impact will appear in the next weekly SBP reserves update
This repayment will likely cause a noticeable decline in reported reserves.
The temporary increase in reserves provides limited support to the rupee, but the upcoming outflow will test Pakistan’s external position. Importers, investors, and currency markets closely track reserve levels as a key signal of dollar liquidity.
Pakistan’s foreign exchange reserves have stabilized above $16 billion after recovering from crisis levels in 2023 under IMF-backed reforms. However, large external repayments continue to create periodic pressure on the country’s reserve buffer.