M2 rises by Rs502bn in a week

According to Mettis Global, citing State Bank of Pakistan figures, broad money (M2) grew Rs501.58 billion week on week, reaching Rs44.07 trillion on July 31, 2026. Against June 2026 the total is down Rs2.39 trillion, and at the end of the last fiscal year it stood at Rs46.46 trillion.

Currency in circulation, meaning banknotes and coins held by the public and financial institutions, slipped Rs132 billion in the week to Rs11.78 trillion. Over the current fiscal year it has shrunk by Rs161.52 billion from Rs11.94 trillion at the end of June. Bank deposits, which exclude inter-bank, government and foreign constituent balances, reached Rs32.24 trillion after a weekly gain of Rs632.05 billion, though they are Rs2.23 trillion lower year to date.

The currency share of M2 stood at 26.73 per cent, compared with 27.34 per cent a week earlier and 25.7 per cent in June 2024. On the liability side, the aggregate combines currency, non-government deposits including residents' foreign currency deposits, and other deposits held with SBP.