M2 rises by Rs367bn in a week

Pakistan’s broad money supply, measured by M2, increased by Rs367.41 billion in the week to October 16, reaching Rs44.64 trillion, according to State Bank of Pakistan data reported by Mettis Global. Despite the weekly gain, M2 was Rs1.82 trillion below its level at the end of June 2026, when it stood at Rs46.46 trillion.

Currency in circulation declined by Rs37.1 billion over the week to Rs11.71 trillion and was down Rs231.53 billion from the end of June. Bank deposits, excluding inter-bank, government and foreign constituents’ deposits, rose by Rs404.26 billion in the week to Rs32.87 trillion, although they were Rs1.59 trillion lower on a fiscal-year-to-date basis. Currency in circulation accounted for 26.23% of M2, compared with 26.54% a week earlier and 25.7% on June 2024.