KARACHI: The foreign exchange reserves of the State Bank of Pakistan (SBP) further rose by $19 million to $16.196 billion during the week ended on Feb 13, announced the central bank on Thursday.

However, the rising oil prices amid deteriorating geopolitical tensions in the Gulf could put pressure on the external front as the central bank had repaid $700m to China, which reduced the reserves. Neither the central bank nor the Ministry of Finance confirmed or denied these reports.

Some currency experts said the higher remittances provided enough space to the SBP to buy dollars and maintain the reserves at this level. Recently, the central bank said that the reserves target of $18bn would be met by the end of FY26.

The concerns among the financial experts are the deteriorating situation as Iran is facing the threat of a possible attack by Israel, with the US forces already deployed in the region. Iran has announced the plan to close the Strait of Hormuz, which could halt oil supplies.

The country’s total foreign exchange reserves, including $5.104bn held by commercial banks, stood at $21.301bn.

Meanwhile, the SBP said that inflows through the Roshan Digital Account surpassed $12bn.

Published in Dawn, February 20th, 2026