The State Bank of Pakistan (SBP) bought a total of $11.38 billion from domestic foreign exchange markets between June 2024 and November 2025, according to the latest data.
While these interventions aimed to stabilize the currency and support market liquidity, the central bank’s foreign exchange reserves experienced fluctuating movements during the period, reflecting both inflows and outflows in the economy.
Monthly data showed substantial purchases, including $573 million in June 2024, $1.15 billion in November 2024, $1.02 billion in September 2025, and $1.03 billion in October 2025. Smaller interventions were also recorded in early 2025, reflecting a mix of market conditions and central bank strategies.
Amid these interventions, the SBP’s foreign exchange reserves saw mixed movements. Reserves increased by $280 million to $9.39 billion in June 2024 and peaked at $12.03 billion in November 2024 before declining slightly to $11.73 billion in December 2024, according to data compiled by Arif Habib Limited.
The central bank continues to monitor FX flows to maintain market stability.
