SBP reserves rise to $21.5bn without new borrowing

Summary

• The State Bank of Pakistan’s (SBP) foreign exchange reserves climbed from less than $3 billion in February 2023 to $21.5 billion as of October 9, 2026, largely through the central bank’s own foreign currency purchases rather than fresh borrowing, Governor Jameel Ahmad told international investors in Bangkok.
• Speaking on the sidelines of the International Monetary Fund (IMF) and World Bank annual meetings, Ahmad said Pakistan had also reduced the SBP’s forward liabilities from more than $5.7 billion to less than $1 billion.
• The central bank expects to continue purchasing foreign currency, with the current account deficit projected to remain between zero and 1% of GDP in FY27.

AI Generated Summary

The State Bank of Pakistan’s (SBP) foreign exchange reserves climbed from less than $3 billion in February 2023 to $21.5 billion as of October 9, 2026, largely through the central bank’s own foreign currency purchases rather than fresh borrowing, Governor Jameel Ahmad told international investors in Bangkok.