Total Foreign Exchange Reserves Reach $21.25 Billion
Pakistan’s total liquid foreign exchange reserves stood at $21.25 billion as of January 9, 2026, according to data released by the State Bank of Pakistan (SBP). Of this, $16.07 billion is held by the SBP, while $5.18 billion is held by commercial banks, reflecting the country’s overall liquid reserves.
During the week, the SBP’s reserves rose by $16 million, marking a modest improvement in Pakistan’s external buffers.
SBP Injects Rs358.5 Billion into Banking System
To manage short-term liquidity, the SBP injected a cumulative Rs358.5 billion into the banking system through conventional and Shariah-compliant open market operations (OMOs).
- In a Shariah-compliant Mudarabah-based OMO with an eight-day tenor, the SBP accepted Rs155.44 billion at a 10.55% per annum rate of return, demonstrating strong participation from Islamic banks.
- Simultaneously, a conventional OMO through reverse repo was conducted for the same tenor, accepting bids worth Rs201.17 billion at a 10.51% cut-off rate.
Pakistani Rupee Edges Up Slightly
The Pakistani rupee appreciated slightly by one paisa against the US dollar in interbank trading, closing at Rs279.96 compared to the previous day’s Rs279.97.
Gold and Silver Prices Slide
Local gold and silver prices registered notable declines:
- 24-karat gold per tola fell by Rs3,700 to Rs482,462
- 10 grams of 24-karat gold dropped by Rs3,172 to Rs413,633
- 24-karat silver per tola declined by Rs150 to Rs9,425
- 10 grams of silver decreased by Rs129 to Rs8,080
The drop in local bullion prices mirrored trends in international markets. Spot gold was down 0.1% at $4,614.97 per ounce, while US gold futures for February delivery fell 0.3% to $4,619.80. Analysts cited weaker-than-expected US weekly jobless claims and a moderated tone on Iran by former President Donald Trump as factors dampening safe-haven demand.
