Pakistan’s foreign exchange reserves recorded a modest increase during the week ending September 19, 2025, according to data released by the State Bank of Pakistan (SBP).
The SBP reported that its reserves rose by $22 million, reaching $14,379.5 million, up from $14,357.5 million a week earlier. This pushed the country’s total liquid foreign reserves to $19,793.3 million, with commercial banks holding $5,413.8 million while the bulk remained with the SBP.
PKR Shows Stability Against US Dollar
In the inter-bank market, the Pakistani Rupee (PKR) showed a slight appreciation of 0.01%, closing at 281.41 against the US dollar on Thursday. This represents a small rebound from Wednesday’s close of 281.43, reflecting continued currency stability despite global fluctuations.
Analysts at Ismail Iqbal Securities highlighted that while the rupee has depreciated 1.01% year-to-date, it has gained 0.84% since the start of the fiscal year in July.
“At the end of the trading session, the PKR appreciated by 0.01% day-on-day against the greenback,” the brokerage stated in its market update on X.
Gold Prices Fall in Pakistan Amid Global Trends
Meanwhile, gold prices in Pakistan dropped significantly, mirroring international market trends. The price of gold per tola fell by Rs2,000, settling at Rs396,800, while the 10-gram rate declined by Rs1,714 to Rs340,192, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).
Globally, spot gold steadied at $3,735.09 per ounce after briefly rising earlier in the day, while US gold futures for December delivery dropped by 0.1% to $3,766, according to Reuters. This comes after gold prices hit a record high of $3,790.82 earlier in the week.
Analysts noted that stronger-than-expected US jobless claims influenced the pullback, as markets now await upcoming US inflation data for insights into the Federal Reserve’s rate decisions.
Silver Surges to Record High
In contrast, silver prices surged to around $45 per ounce internationally and Rs4,663 per tola locally, setting a new record.
Conclusion
The week reflects a mixed trend in Pakistan’s economy:
- Forex reserves increased modestly, boosting confidence.
- The rupee remained stable in the inter-bank market.
- Gold prices dropped locally and globally, while silver surged to new highs.
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