SBP reserves rise by $23m

The Newspaper's Staff Reporter Published May 8, 2026 Updated May 8, 2026 07:12am

A person holds US dollar banknotes in this file photo taken May 30, 2022.--REUTERS/Dado Ruvic/Illustration/File Photo

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KARACHI: The State Bank of Pakistan (SBP) foreign exchange rose by $23 million to $15.850bn for the week ending April 30, announced the central bank on Thursday.

The SBP has been heavily buying dollars to bolster its reserves and meet external payments.

However, it looks difficult for the SBP to meet the $18bn target after the UAE sudden decision to withdraw its $3.5bn held in the SBP account, while $1.4bn was paid upon the maturity of the Eurobonds.

The country’s overall reserves stood at $21.29bn, including $5.442bn held by commercial banks during the week ended April 30.

Published in Dawn, May 8th, 2026

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