Pakistan Forex Reserves 2026: Every Month's SBP and Total Reserves, January to October (Full List)

Pakistan's foreign exchange reserves held by the State Bank (SBP) rose from $16.05 billion at the end of December 2025 to $21.51 billion at the end of September 2026, and stood at $21.52 billion on 23 October 2026. Total liquid reserves, which add the dollars held by commercial banks, were $26.75 billion on 23 October. Below is every month-end figure for 2026 and every October week, from SBP's own reserves sheet.

We downloaded the SBP liquid foreign exchange reserves sheet on 1 November 2026. It lists month-end levels from June 2025 and the weekly levels for October 2026, in million US dollars.

SBP reserves were $21.52 billion on 23 October 2026

On 23 October 2026 the State Bank held $21,521.7 million, banks held $5,232.5 million, and total liquid reserves were $26,754.2 million. SBP's own reserves rose again that week, while bank reserves fell, so the total dipped by $78.8 million in that week.

The weekly figure is the one people quote when they ask how much reserves Pakistan has. It is the SBP column that counts for paying for imports and repaying foreign debt, because bank reserves belong to the banks and their customers. The latest weekly release has its own page: SBP reserves for the week to 23 October 2026.

Every month-end of 2026: the full reserves list

The table gives the level on the last day of each month, in million US dollars. SBP marks most 2026 months as revised (R) and September as provisional (P), so these numbers can still change slightly.

Reserves fell in only two months of 2026: April, by $531.2 million, and July, by $1,335.1 million. Every other month added to the pile. Those changes are our arithmetic from the sheet.

September 2026 added $4.36 billion, the biggest jump of the year

SBP reserves went from $17,152.8 million at the end of August to $21,510.5 million at the end of September. That is a rise of $4,357.7 million in one month, bigger than the whole rise from December to August.

The Finance Division's October 2026 economic update explains the inflows. It says Pakistan sold a $3.0 billion sovereign Eurobond in September, portfolio investment brought net inflows of $2.9 billion in July to September, and the balance of payments showed a $3.1 billion surplus for the quarter. Pakistan's dollar bonds and their maturities are listed in the Eurobond list.

October 2026 week by week: SBP reserves rose every week

SBP reserves rose a little from each October week to the next, by $15.8 million to $33.1 million at a time. Bank reserves moved more, and pulled the total down in the last two weeks.

Compared with a year earlier, the change is large. At the end of September 2025, SBP held $14,174.6 million. A year later it held $21,510.5 million, about 52% more by our arithmetic.

The next weekly figure is due on Thursday 5 November 2026

SBP usually posts the weekly reserves figure on a Thursday, for the week that ended on the Friday before. The 23 October figure came on Thursday 29 October. On that pattern, the figure for the week to 30 October should come on 5 November 2026. SBP does not publish a fixed date, so treat this as an expectation.

Reserves matter for ordinary people in three ways. They support the rupee, they decide how easily banks can open import letters of credit, and they show whether Pakistan can meet foreign loan repayments. The repayment timetable is set out in Pakistan's IMF repayment schedule.

How to read the SBP reserves sheet yourself

The sheet is a short PDF on the State Bank's website. It takes about a minute to read the SBP weekly reserves sheet once you know the columns.

1. Open the State Bank of Pakistan website and find the liquid reserves box on the home page.
2. Open the reserves PDF linked from the economic data section.
3. Read the "Net reserves with SBP" column for the official figure.
4. Add "Net reserves with banks" only if you want the total liquid reserves.
5. Check the R and P marks: R means revised, P means provisional.

Common questions

How much foreign exchange reserves does Pakistan have now?

On 23 October 2026 the State Bank held $21.52 billion and total liquid reserves were $26.75 billion, according to SBP's sheet.

What is the difference between SBP reserves and total reserves?

SBP reserves belong to the central bank. Total liquid reserves add the net foreign currency held by commercial banks, which mostly belongs to their customers.

Why did reserves jump in September 2026?

The Finance Division points to a $3.0 billion Eurobond sale in September, portfolio inflows and higher remittances. SBP's sheet itself gives no reason.

Did reserves fall at any point in 2026?

Yes. SBP reserves fell in April 2026 by $531.2 million and in July 2026 by $1,335.1 million.

Do gold holdings count in these figures?

No. The liquid reserves sheet covers foreign currency reserves. The State Bank's gold is reported separately in its accounts.

When is the next reserves update?

On SBP's usual Thursday pattern, the week to 30 October should be posted on 5 November 2026.

How we verified this

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

Last checked 1 November 2026. Month-end and weekly figures come from SBP's liquid foreign exchange reserves sheet (forex.pdf), which we downloaded from sbp.org.pk on 1 November 2026; its columns print out of line, so we matched each row by checking that SBP plus banks equals the total. The Eurobond, portfolio inflow and balance of payments figures come from the Finance Division's Monthly Economic Update and Outlook for October 2026, read the same day. Monthly changes and the yearly comparison are our arithmetic. We could not confirm the next release date, which SBP does not announce.