M2 rises by Rs449bn in a week

Broad money, known as M2, rose by Rs449.01 billion over the week to reach Rs44.39 trillion as of September 4, 2026, according to State Bank of Pakistan data reported by Mettis Global. The weekly gain came after M2 had fallen by Rs2.07 trillion since June 2026, a drop from the Rs46.46 trillion level at the close of the last fiscal year.

Currency in circulation, which covers banknotes and coins held by the public and financial institutions, climbed Rs98.58 billion week on week to Rs11.78 trillion. Within the fiscal year so far, however, it has shrunk by Rs164.55 billion from Rs11.94 trillion in June 2026. Its share of M2 stood at 26.53 per cent, against 26.57 per cent a week earlier and 25.7 per cent in June 2024.

Total deposits held with banks reached Rs32.57 trillion, up Rs347.82 billion on the week but down Rs1.9 trillion in the fiscal year to date. That total leaves out inter-bank deposits as well as deposits of governments and foreign constituents. On the liability side, M2 combines currency in circulation, non-government deposits, among them residents' foreign currency accounts, and other deposits with SBP.