Pakistan's Official Reserve Assets Hit $31.57 Billion in September 2026, Up 13% in a Month
Pakistan's official reserve assets reached $31.57 billion at the end of September 2026, up $3.7 billion in a month, SBP data show. See the full breakdown.
Pakistan's official reserve assets stood at $31.57 billion on 30 September 2026, according to the State Bank of Pakistan (SBP). That is $3.70 billion more than at the end of August and $8.22 billion more than a year earlier. The table is the highest in the monthly series that SBP's file shows, which starts in January 2024.
The State Bank put the September figure on its Economic Data page on 14 October 2026. We opened the Official Reserve Assets table and the archive file behind it on the same day. All figures below come from those two files, in million US dollars.
Official reserve assets rose 13.3 per cent in one month
The total was $31,571.0 million at the end of September 2026, against $27,866.6 million at the end of August. That is a rise of $3,704.4 million, or 13.3 per cent. Against September 2025, when the total was $23,352.7 million, the rise is 35.2 per cent.
August itself was a strong month, so September was a jump on top of a jump. The total has not been below $26 billion at any month end since December 2025. It had stayed between $26.6 billion and $28.4 billion from January to August.
SBP's page does not say why the total rose so fast. It gives numbers only. We did not find an explanation on the State Bank's table, so we do not guess at one.
Foreign currency and "other" assets drove the rise
Foreign currency reserves rose $2,079.2 million to $18,086.1 million. "Other reserve assets" rose $2,296.5 million to $4,483.6 million, more than double August's $2,187.1 million. Gold fell, which pulled the total back a little.
| Item (million US dollars) | End August 2026 | End September 2026 | Change |
|---|---|---|---|
| Foreign currency reserves | 16,006.9 | 18,086.1 | +2,079.2 |
| Gold | 9,509.4 | 8,844.2 | -665.2 |
| SDRs | 163.0 | 156.9 | -6.1 |
| Other reserve assets | 2,187.1 | 4,483.6 | +2,296.5 |
| Total | 27,866.6 | 31,571.0 | +3,704.4 |
SDRs are Special Drawing Rights, an asset the IMF creates and counts as reserves. Pakistan holds only $156.9 million of them. The "reserve position in funds" line is a flat $0.16 million.
The foreign currency line is 57.3 per cent of the total. Last September it was $10,717.4 million, so it is up $7,368.7 million in a year, or 68.8 per cent.
Gold is 28 per cent of the total, but it fell 7 per cent in a month
Gold stood at $8,844.2 million at the end of September, which is 28.0 per cent of all official reserve assets. In August it was $9,509.4 million, or 34.1 per cent. The fall of $665.2 million is 7.0 per cent.
The table values gold in dollars, so a change in the world gold price moves this line even when the amount of gold stays the same. SBP's page does not split the fall between price and quantity. The earlier look at the State Bank's 2.08 million ounces of gold shows how much it held in June.
Gold peaked in this series at $10,880.6 million in February 2026. It is now $2,036.4 million below that. Against September 2025, gold is still up $879.8 million, or 11.0 per cent.
Do not add this table to the weekly SBP reserves figure
This is a separate table from the weekly sheet that the news usually quotes. On 2 October 2026 the weekly sheet showed SBP's own reserves at $21.45 billion and the total with banks at $26.8 billion, as in our note on the weekly SBP reserves. The monthly Official Reserve Assets table shows $31.57 billion for 30 September.
The two tables use their own coverage and their own way of valuing gold. We could not line them up from the pages and SBP does not do it for readers. So do not subtract one from the other, and do not say reserves "rose" by comparing them.
When you quote a reserves number, name the table. Say "SBP reserves", "total liquid reserves" or "official reserve assets", because each means something different.
How to read the table yourself
You need no login. The steps below take about two minutes, and the archive file lets you compare any month since January 2024.
- Open the State Bank's Economic Data page at sbp.org.pk/ecodata.
- Find the heading "Official Reserve Assets" in the reserves section.
- Open the PDF for the latest month, and note the date at the top of the column.
- Open the Excel archive next to it to see every month since January 2024.
- Compare the same item month to month, and compare the total against the same month last year.
- Check the date of release. The September table went up on 14 October, two weeks after the month closed.
For the other official numbers that sit beside this one, such as inflation and remittances, see our short list of official pages for Pakistan's economy numbers.
What the figure does not tell you
Reserves are not savings in a bank account that the government can spend freely. Some of the assets come from loans that must be repaid, and the table does not show which. A bigger total helps with imports and debt payments, but it does not by itself lower prices at the shop.
The IMF recently agreed a new tranche with Pakistan at staff level. We covered that in the note on the staff-level agreement for about $1.2 billion. It still needs board approval. The September table was drawn before any such money arrived, so the new loan is not part of this number.
The sums in this article, such as the percentage changes and the gold share, are our own arithmetic from SBP's figures. SBP does not publish them.
Common questions about Pakistan's official reserve assets
How much are Pakistan's official reserve assets?
They were $31,571.0 million on 30 September 2026, according to the State Bank of Pakistan's Official Reserve Assets table. That is $31.57 billion.
Is this the same as SBP reserves?
No. SBP's weekly sheet showed $21.45 billion for the State Bank's own reserves on 2 October 2026. The monthly table is a separate release with its own coverage, and we could not line the two up.
How much of the total is gold?
Gold was $8,844.2 million, or 28.0 per cent of the total, at the end of September. The table values it in US dollars, so the world gold price affects it.
Why did the total rise so much in September?
SBP's page does not say. The table shows that foreign currency reserves rose $2.08 billion and "other reserve assets" rose $2.30 billion. Gold fell $665 million.
Where can I check the latest figure?
Open the State Bank's Economic Data page and look for "Official Reserve Assets". The PDF shows the latest month and the Excel archive shows every month from January 2024.
How we verified this
What we checked, where we read it, and what we could not confirm.
Last checked 14 October 2026. The figures come from the State Bank of Pakistan's Official Reserve Assets table and its archive file, both read on 14 October 2026, via the Economic Data page. Percentages and the gold share are our arithmetic. Check the State Bank's page for the next monthly release, because a later table may revise these numbers.
About the author
Global Affairs & Political Economy Writer
Muhammad Hatim is a book lover who started writing because he enjoys it. At Pakistan Era he writes about international relations, geopolitics and the global economy, with a particular interest in South Asia and the forces behind current events.
