SBP reserves inch up $16m to $14.47b
Delay in loans will not adversely affect Pakistan’s external sector position in the short term due to $16 billion in gross foreign exchange reserves. PHOTO: FILE
The State Bank of Pakistan's (SBP) foreign exchange reserves increased by $16 million during the week ended October 24, 2025, reaching $14.471 billion, the central bank reported on Thursday.
According to the SBP, the country's total liquid foreign reserves stood at $19.687 billion, of which commercial banks held $5.216 billion in net reserves.
Gold prices in Pakistan fell on Thursday, diverging from the international market, where the yellow metal gained nearly 2%, supported by a US Federal Reserve interest rate cut and persistent uncertainty over the China-US trade deal.
According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola declined by Rs1,000 to Rs418,862, while the rate for 10 grams dropped by Rs857 to Rs359,106.
A day earlier, gold prices had surged by Rs3,500 per tola, closing at Rs419,862, following volatility in international bullion markets.
Spot gold was up 1.7% at $3,995.59 per ounce as of 11:26 am ET (1525 GMT), having risen nearly 2% earlier in the session, according to Reuters. US gold futures for December delivery rose 0.2% at $4,009.20 per ounce.
US President Donald Trump said on Thursday he would reduce tariffs on China to 47% from 57% in exchange for Beijing resuming US soybean purchases and rare-earth exports, and cracking down on illicit fentanyl trade.
Global gold demand rose by 3% year-on-year to 1,313 metric tons, the highest quarterly number on record, in the third quarter as investment demand soared, the World Gold Council said on Thursday.
Spot gold prices are up 50% so far this year after hitting a record high of $4,381 a troy ounce on October 20 on safe-haven demand driven by geopolitical tensions, US tariff uncertainty and more recently a wave of fear-of-missing-out (FOMO) buying.
The Pakistani rupee recorded a slight uptick against the US dollar, appreciating by 0.01% in the inter-bank market. By the close of trading, the local currency settled at Rs280.92, gaining Rs0.04 compared to the previous day's close at Rs280.96.
In global currency markets, the US dollar edged higher as investors slashed expectations of a Federal Reserve rate cut in December, following remarks by Fed Chair Jerome Powell. The development kept the Japanese yen hovering near an eight-month low ahead of the Bank of Japan's policy announcement.
Earlier, markets remained on edge ahead of a closely watched meeting between US President Donald Trump and Chinese President Xi Jinping, where both leaders were expected to discuss measures to ease their ongoing trade tensions.