SBP forex reserves increase $17m

Local gold inches up as global tensions hold bullion steady

Pakistan's foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $17 million on a weekly basis to $15.87 billion during the week ended May 8. 2026, the central bank said on Thursday.

The country's total liquid foreign reserves stood at $21.34 billion. Of these, the net reserves held by commercial banks amounted to $5.47 billion.

Earlier, the SBP reported that it had received around $1.3 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF). the Resilience and Sustainability Facility (RSF). The IMF Executive Board completed the third review under the EFF on May 8. approved the disbursement of SDR 760 million for Pakistan. In addition, the board also approved the second tranche of SDR 154 million under the RSF.

According to the central bank. Pakistan received a total of SDR 914 million, equivalent to around $1.3 billion, on May 12, 2026. The SBP said the inflow would be reflected in the foreign exchange reserves data for the week ending May 15. 2026.

Furthermore. the Pakistani rupee continued its strengthening streak with a marginal rise of 0.01% against the US dollar in the interbank market on Thursday, closing at 278.62, up Rs0.03 from Wednesday's close at 278.65.

Meanwhile, gold prices in Pakistan edged higher, tracking slight gains in the international market, where bullion remained broadly steady as investors weighed developments in the US-Israel conflict with Iran. signals from high-level diplomatic engagements between the United States and China.

In the local market, the price of gold per tola rose by Rs1,000 to settle at Rs492,362, according to rates issued by the All-Pakistan Gems. Jewellers Sarafa Association. Similarly, the price of 10-gram gold increased by Rs858 to Rs422,121.

On Wednesday. gold had closed at Rs491,362 per tola after declining by Rs1,100, reflecting continued volatility in the domestic bullion market in line with shifting global cues. In the international market. spot gold was little changed at $4,689.99 per ounce at 1043 am EDT (1443 GMT), while the US gold futures for June delivery slipped 0.2% to $4,695.80. The US dollar index edged up 0.2%, making dollar-denominated bullion relatively more expensive for holders of other currencies. slightly capping the upside momentum.

The global sentiment remained cautious as investors monitored geopolitical risks, including tensions in the Middle East. Oil markets also reacted to reports from Iran regarding vessel movement through the Strait of Hormuz, while diplomatic discussions between the US. Chinese leadership added to broader uncertainty.

Silver prices in Pakistan also moved higher. gaining Rs65 to reach Rs9,204 per tola, mirroring the upward bias in precious metals despite mixed global trading signals.

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