M2 falls by Rs321bn in a week

Pakistan’s broad money supply, measured by M2, contracted by Rs320.75 billion in the week to October 23, reaching Rs44.32 trillion, according to State Bank of Pakistan data reported by Mettis Global. Compared with the end of June 2026, M2 was lower by Rs2.14 trillion, from Rs46.46 trillion.

Currency in circulation declined by Rs89.95 billion week on week to Rs11.62 trillion, and was down Rs321.48 billion since June. Bank deposits, excluding inter-bank, government and foreign constituents’ deposits, fell by Rs229.15 billion over the week to Rs32.65 trillion, a fiscal-year-to-date decrease of Rs1.82 trillion. M2 combines currency in circulation, non-government deposits and other deposits with the SBP; its asset-side measure comprises banking-system net domestic and net foreign assets.