The State Bank of Pakistan's foreign exchange reserves declined by $1.305 billion to reach $15.916 billion in the week ending June 19, 2026, primarily due to external debt repayments. However, the government subsequently received fresh inflows that are anticipated to significantly strengthen the central bank's reserve position.
Fresh Inflows of $2.4 Billion
The SBP received $0.7 billion from a multilateral institution and approximately $1.7 billion as refinancing of a government commercial loan. According to a central bank statement on Monday, these inflows will be reflected in the SBP's foreign exchange reserves as of June 30, 2026.
Total Liquid Reserves Stand at $21.485 Billion
As of June 19, 2026, Pakistan's total liquid foreign reserves amounted to $21.485 billion. Of this, the foreign reserves held by the State Bank were $15.916 billion, while net foreign reserves held by commercial banks stood at $5.568 billion.
Rupee Appreciates Marginally
The Pakistani rupee appreciated by 0.01% against the US dollar, closing at Rs278.17 on Monday compared to Rs278.20 on Wednesday last week.
Gold Prices Decline Amid Global Pressures
Gold prices in Pakistan declined, tracking losses in the international market. Fresh US-Iran tensions boosted oil prices and stoked inflation fears, raising expectations of higher interest rates. In the local market, the price of gold per tola stood at Rs428,936 after a drop of Rs2,300, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association. Similarly, 10-gram gold was sold for Rs367,743 after falling by Rs1,972. Silver prices decreased by Rs69 to Rs6,324 per tola. On Saturday, per-tola gold had closed at Rs431,236 following a decline of Rs1,000.
International Gold Market Under Pressure
Internationally, spot gold slid 1.5% to $4,025.83 per ounce by midday ET, after dipping more than 2% earlier and hitting a more than seven-month low last week, according to Reuters. US gold futures for August delivery fell 1.4% to $4,040.70. Interactive Commodities Director Adnan Agar noted that gold prices came under pressure. "The low was $4,000, the high was $4,090 and the market closed at $4,024. Right now, gold prices are under pressure," he said. Agar suggested that the market could test lows around $3,600 to $3,900 in the coming days before any potential upside. He highlighted the linkage with oil: "If oil goes up from here, which has a very high chance, then the stories of a gold reversal will start again." With US-Iran issues persisting, including Iran's strikes on US military sites in Bahrain and Kuwait on Sunday, "gold is expected to remain under pressure for one to two months", he said. Market participants are also eyeing key US data this week, including the ADP employment report and non-farm payroll figures, which could further influence rate expectations and the dollar's strength.
