State Bank Of Pakistan Becomes Net Buyer In Forex Market

As of February 2026, the State Bank of Pakistan (SBP) has transitioned to becoming a net buyer in the foreign exchange market, purchasing a total of $11.38 billion from June 2024 to November 2025. This shift is significant as it marks a departure from previous strategies where the SBP primarily sold foreign currency to stabilize the market. SBP Governor has attributed this improvement to structural changes, stating, "I review FX market developments daily and issue directions when required," which reflects a proactive approach to managing the country's foreign exchange reserves. The SBP's reserves have also seen a notable increase, reaching $16.2 billion by mid-February 2026, with projections suggesting they could hit $20.2 billion by the end of the year, bolstered by a positive remittance outlook expected to reach around $42 billion.