M2 falls by Rs221bn in a week

Broad money (M2) fell by Rs220.75 billion week on week to Rs43.83 trillion as of August 14, 2026, according to State Bank of Pakistan data that Mettis Global reported. Compared with the end of June 2026, the aggregate is down Rs2.63 trillion, having stood at Rs46.46 trillion at the close of the previous fiscal year. M2 is the broad money gauge most commonly used in Pakistan.

Currency in circulation, meaning notes and coins held by people and financial firms, slipped Rs31.79 billion in the week to Rs11.92 trillion. Since the current fiscal year began it has declined Rs19.71 billion from Rs11.94 trillion at the end of June. Its share of M2 edged up to 27.2 per cent from 27.14 per cent a week earlier, against 25.7 per cent in June 2024.

Deposits held with banks reached Rs31.86 trillion, reflecting a weekly drop of Rs190.07 billion and a decline of Rs2.61 trillion since the fiscal year started. The total excludes inter-bank balances, government deposits and those of foreign constituents. On the liability side, M2 combines currency, non-government deposits (including foreign currency deposits of residents) and other SBP deposits, while the asset side adds domestic and foreign net holdings of SBP and scheduled banks.