📊 Foreign Exchange Reserves – FY25 Highlights
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State Bank of Pakistan (SBP) reserves stood at $14.51 billion by June 30, 2025, up from $9.39 billion a year earlier — marking a $5.12 billion increase (54.5%).
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SBP attributed the growth to:
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Improved current account balance
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Realisation of planned inflows such as commercial loans and multilateral support
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Despite gains, reserves fluctuated throughout the year due to:
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External debt repayments
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Scheduled inflows and outflows
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June 20, 2025 snapshot:
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Total liquid reserves: $14.40 billion
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SBP’s share: $9.06 billion
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Commercial banks: $5.33 billion
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Sharp drop in reserves by $2.66 billion in late June due to debt repayments.
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Recovered in the final week of June with:
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$3.1 billion in government commercial loans
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$500 million+ from multilateral agencies
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🪙 Gold Price Movements
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24-karat gold per tola dropped Rs600 on Wednesday, settling at Rs356,200.
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10-gram gold decreased Rs514 to Rs305,384.
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This followed a Rs6,600 per tola surge on Tuesday.
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Analyst Adnan Agar noted:
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Gold is trading in a tight range: $3,351–$3,327, currently around $3,340.
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Upcoming US jobs data is key for gold’s next move:
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If bullish: price may test $3,400
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If weak: could drop to $3,300 or below
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US bank holidays expected to reduce liquidity this week.
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💱 Currency & Liquidity Updates
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Pakistani Rupee depreciated by 19 paisa, closing at Rs283.95/$ in inter-bank trade (down from Rs283.76).
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Represents a 0.07% drop in value.
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SBP liquidity injection via Open Market Operations (OMOs):
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Total: Rs1.163 trillion
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Conventional OMO: Rs805.15 billion
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Shariah-compliant OMO (Mudarabah): Rs358 billion
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Summary:
Pakistan’s forex position strengthened in FY25 due to strategic inflows, though short-term volatility persisted. Meanwhile, gold prices corrected slightly after a surge, and the rupee saw minor depreciation. Liquidity support by the SBP signals continued efforts to stabilize financial markets.
