KARACHI: In less than a month, foreign exchange reserves of the State Bank of Pakistan (SBP) fell by $1.4 billion to $17bn, announced the central bank on Thursday.

The State Bank exceeded the target of $18bn for FY26, reaching $18.4bn. The target was a part of the agreement with the IMF.

During the week ended on July 24, the SBP reserves declined by $229 million.

The country’s overall foreign exchange holdings stood at $22.442bn, including $5.412bn held by commercial banks, during the week.

SBP Governor Jameel Ahmad reportedly told the Senate Standing Committee on Wednesday that Saudi Arabia has rolled over $5bn and that the State Bank purchased $9bn in FY26 from the interbank market.

Published in Dawn, July 31st, 2026