SBP reserves rise $33m to $21.52b
“The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $33 million to $21.52 billion during the week ended October 23, 2026, central bank on Thursday. A week earlier, the S…”
A week earlier, the SBP reserves stood at $21.49 billion. Pakistan's total liquid foreign exchange reserves, including the net reserves held by commercial banks, amounted to $26.75 billion during the week under review. Commercial banks had net reserves of $5.23 billion.
Meanwhile, the Pakistani rupee gained Rs0.01 against the US dollar, closing at 276.76 compared with Wednesday's close at 276.77. Furthermore, gold prices in Pakistan remained unchanged on Thursday, as international bullion prices fell on stronger-than-expected US inflation data that reinforced expectations of a possible Federal Reserve rate hike later this year.
In the local market, the price of gold per tola stood at Rs425,636, unchanged from the previous session, All-Pakistan Gems and Jewellers Sarafa Association. Similarly, the price of 10-gram gold remained stable at Rs364,914. On Wednesday, gold prices had increased by Rs3,500 per tola to reach Rs425,636, recovering some ground amid fluctuations in the international market.
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Internationally, spot gold fell 1.1% to $4,024.10 per ounce by 11:53 am EDT (1553 GMT),. US gold futures for December delivery declined 0.4% to $4,036.40 per ounce. Bullion was on track for its second consecutive monthly decline as the rising US inflation strengthened expectations that the Federal Reserve could raise rates in December.
Higher rates generally weigh on gold by increasing the opportunity cost of holding the non-yielding metal. US inflation accelerated in September, prompting investors to reassess the outlook for monetary policy. Traders were pricing in an 83% probability of a Federal Reserve rate hike in December, the report.
The prospect of tighter monetary policy supported the US dollar and put additional pressure on gold prices as a stronger dollar makes bullion more expensive for holders of other currencies.
Silver prices in Pakistan moved lower on Thursday, losing Rs86 per tola to settle at Rs5,768. Precious metals have faced pressure from changing interest rate expectations and movements in the US dollar, with investors closely watching inflation data and signals from the Federal Reserve for further direction.
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