SBP Reserves Reach $21.49 Billion on 16 October, Pakistan's Total Slips to $26.83 Billion

The State Bank of Pakistan held $21,488.6 million in liquid foreign exchange reserves on 16 October 2026, and Pakistan's total, with commercial banks, stood at $26,833.0 million. The State Bank's own reserves rose $19.1 million in the week. Banks' holdings fell $49.4 million, so the total slipped $30.3 million from $26,863.3 million on 9 October.

We read the weekly sheet on SBP's site late on 22 October 2026, and its home page panel shows the same three figures as on 16 October. The total has stayed between $26.77 billion and $26.86 billion every week since 11 September.

SBP's reserves rose $19.1 million to $21,488.6 million in the week to 16 October

SBP's net reserves were $21,488.6 million on 16 October, against $21,469.5 million on 9 October. That is a gain of $19.1 million, or less than 0.1 per cent. The central bank's own figure has risen every week since 11 September.

The 25 September and 2 October rows come from our guide to reading SBP's weekly reserves sheet. The 9 and 16 October rows are new. SBP marks the latest weeks as provisional, so a figure can be revised.

Banks' reserves fell $49.4 million, which pulled the total down

Commercial banks' net foreign exchange holdings were $5,344.4 million on 16 October, down from $5,393.8 million a week earlier. That is a fall of $49.4 million. It more than cancelled the gain at SBP, so the total fell by $30.3 million.

Banks hold about 19.9 per cent of the total, our arithmetic from the two figures. Their share is smaller than SBP's because SBP's reserves back the whole system. The sheet does not give a reason for the weekly change, and we do not guess one. SBP's own dollar buying is explained in its interbank intervention report.

SBP's reserves are up $3.1 billion since the end of June

SBP held $18,378.2 million at the end of June 2026 on the revised sheet. It now holds $21,488.6 million, so its own reserves are $3,110.4 million higher. The total has grown from $23,207.6 million to $26,833.0 million, a gain of $3,625.4 million.

SBP's reserves are $6,982.8 million, or 48.1 per cent, higher than in June 2025. The big step came in the week to 11 September, when SBP's own figure jumped by about $3.06 billion, as the sheet in our earlier guide showed. The sheet gives no reason for it. The Governor told foreign investors on 17 October that reserves had risen to $21.5 billion, as set out in the report on his briefing.

The weekly sheet is not the same as the monthly official reserve assets figure

SBP publishes two reserve numbers. The weekly sheet counts liquid foreign exchange, split between SBP and banks. The monthly official reserve assets table is wider and includes gold and special drawing rights. The two will never match, and neither is wrong.

For September, the monthly table showed a much larger total, as described in the official reserve assets report. Gold alone is covered in the report on SBP's gold holdings. If you quote reserves, say which one you mean.

1. Open the reserves sheet on the SBP website.
2. Find the latest dated row, such as 16-Oct-26.
3. Read the column called net reserves with SBP for the central bank's figure.
4. Read the last column for the total liquid foreign exchange reserves.
5. Check the previous row to see the weekly change.

What the numbers mean for the dollar rate and the rupee

Steady reserves give the rupee support, but they do not set the daily rate. The interbank dollar rate moved by about 1 paisa on 22 October, which is the usual size of a day's move this month. The latest rate report is in the dollar rate report for 21 October.

The next policy meeting is on 26 October. Reserves are one of several inputs to it, and we make no prediction here. The line for the week to 23 October was not yet posted when we looked.

Common questions

How much are SBP's reserves on 16 October 2026?

SBP held $21,488.6 million in net liquid foreign exchange reserves on 16 October, according to its weekly sheet.

What are Pakistan's total reserves?

The total, SBP plus commercial banks, was $26,833.0 million on 16 October 2026.

Did reserves go up or down this week?

SBP's own reserves rose $19.1 million, but banks' fell $49.4 million, so the total fell $30.3 million.

Why do some reports say $21.5 billion and others $26.8 billion?

The first is SBP's own reserves and the second includes commercial banks. Both come from the same weekly sheet.

Do reserves include gold?

The weekly sheet has no gold line. The monthly official reserve assets table does include gold.

How often does SBP update this sheet?

Weekly, with the week ending on Friday. The latest line is marked provisional until SBP revises it.

How we verified this

What we checked, where we read it, and what we could not confirm.

Last checked late on 22 October 2026. The week-end figures for 25 September to 16 October and the month-end rows come from the weekly liquid foreign exchange reserves sheet (forex.pdf) on the website of the State Bank of Pakistan, which we read on 22 October, and from the reserves panel on SBP's home page, labelled "As on 16 October 2026". Weekly changes, shares and the gain since June are our arithmetic. The sheet gives no reason for any change, and we have not supplied one. We did not read SBP's weekly sheet for 23 October because it was not yet posted.