SBP reserves rise $16m to $16.21b
Since July 22, numerous unauthorised exchange outlets have been closed after the military intelligence agency summoned currency dealers to address the rising dollar rate in the open market. photo: file
The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $16 million to $16.213 billion during the week ended February 20, 2026.
The country's total liquid foreign reserves stood at $21.408 billion. Of these, $16.213 billion was held by the central bank, while $5.195 billion was with commercial banks. This takes import cover to 2.53 months, according to Arif Habib Ltd.
Furthermore, the Pakistani rupee posted a marginal appreciation against the US dollar in the inter-bank market on Thursday. By the close of trading, the local currency settled at 279.50 per dollar, strengthening by Rs0.01 compared with the previous session.
On Wednesday, the rupee had finished trading at 279.51 against the greenback, according to the State Bank of Pakistan (SBP).
Meanwhile, gold prices in Pakistan eased, tracking subdued trends in the international bullion market as investors stayed cautious ahead of a fresh round of indirect US-Iran nuclear negotiations in Geneva.
According to the All Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold fell by Rs700 per tola to Rs540,562. Similarly, the 10-gram gold declined by Rs600 to Rs463,444 in the local market.
The decline follows Wednesday's modest increase, when gold per tola rose by Rs1,300 to Rs541,262 amid safe-haven demand linked to geopolitical tensions.
Silver prices also moved lower on Thursday, dropping Rs350 to settle at Rs9,204 per tola, the market association data showed.
In the international market, spot gold held largely steady, hovering near $5,165 per ounce in early US trading, while April gold futures slipped about 0.8% to around $5,182, according to Reuters.
Traders remained on the sidelines ahead of the third round of indirect talks between Washington and Tehran, mediated by Oman, with expectations that any progress could influence geopolitical risk premiums embedded in bullion prices.
Adnan Agar, Director at Interactive Commodities, said the domestic bullion market reflected mild downward pressure in line with global cues. He noted that gold traded between $5,140 and $5,205 during the day and was hovering near $5,168 at the time of reporting.
"Geopolitical developments, particularly the Iran-US discussions, are currently the main focus for bullion traders. The market is likely to react once clarity emerges from these negotiations," he said.
Agar added that next week's US employment data would be another key driver for gold's near-term direction as labour market signals could shape expectations around US rate policy and the dollar trajectory.
Market participants are also monitoring trade policy developments after US officials signalled that tariff rates on some countries could rise to 15%, a factor that may sustain underlying demand for safe-haven assets despite short-term consolidation in prices.