The State Bank of Pakistan’s foreign exchange reserves rose by about $33 million in the week to July 17, 2026, lifting the SBP’s holdings to roughly $17.26 billion. Total liquid foreign reserves, which include reserves held by commercial banks, increased to about $22.67 billion. Net foreign reserves held by commercial banks fell by around $38.7 million to about $5.41 billion over the same period. The weekly gain followed a period of fluctuation driven by external debt repayments and inflows from multilateral lenders and government-related inflows in prior weeks. The SBP’s end-June monthly data show reserves around $18.38 billion, with a year-over-year rise in total reserves by about $3.87 billion. Analysts note that future reserve movements will hinge on export performance, remittances, foreign investment, and external financing conditions.