Pakistan’s liquid foreign exchange reserves rose slightly to $19.68 billion as of September 5, 2025, reflecting a week-on-week increase of $21.4 million, according to the State Bank of Pakistan (SBP) and commercial banks’ data compiled by Arif Habib Limited.
The SBP’s own reserves stood at $14.34 billion, up $33.8 million from the previous week. Meanwhile, commercial banks’ net reserves fell by $12.4 million to $5.35 billion. With the latest position, the country’s import cover has improved marginally to 2.33 months, based on average imports of the past three months.
Analysts note that while reserves have been strengthening in recent months due to steady remittance inflows and official external financing, the overall import cover remains relatively low, leaving the economy vulnerable to external shocks and large debt repayments.
READ MORE: Pakistani Digital Economy Hits $ 10.42 Billion
Pakistan has been managing its balance of payments through tighter import controls, inflows from multilateral lenders, and support from friendly countries. However, upcoming external obligations and volatile global commodity prices are expected to keep pressure on reserves in the coming months.
