SBP buys $8.78 billion from interbank market in 12 months to bolster forex reserves

The State Bank of Pakistan bought $8.78 billion in the interbank foreign exchange market between August 2025 and July 2026, using purchases to build reserves and cover external debt payments, according to Profit by Pakistan Today. The central bank acquired $863 million in July, up from $841 million in June.

SBP reserves were about $21.5 billion on October 16, enough for three months of imports, while the bank retained targets of $23 billion by December 2026 and $25 billion by June 2027. Governor Jameel Ahmad said the targets factor in debt repayments and current account financing needs; the SBP also raised its current fiscal year remittance forecast to $45 billion from $44 billion. Of $21.5 billion in external debt servicing obligations, $7.3 billion in principal was rolled over and about $5 billion repaid, with around $5 billion still due.