SBP's reserves up $6m to $16.38b

Total forex stands at $21.79b; gold dives Rs7,100 per tola as dollar strengthens

KARACHI:

Pakistan's foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a marginal increase during the week ended March 27, 2026, reflecting relative stability in external inflows.

According to the latest data, the SBP's reserves rose by $6 million to reach $16.38 billion.

The country's overall liquid foreign reserves stood at $21.79 billion during the period under review. Of this, $16.38 billion was held by the central bank, while $5.41 billion was with commercial banks.

Meanwhile, the Pakistani rupee posted a slight gain against the US dollar, closing at 279.11 in the inter-bank market on Thursday, improving by Rs0.01 from the previous day's close at 279.12.

Globally, the dollar strengthened after Donald Trump signalled continued US attacks on Iran, dashing hopes for a ceasefire and increasing demand for safe-haven assets. The dollar index rose 0.3% to 99.861. Meanwhile, the euro and British pound fell around 0.3% against the greenback. Oil prices surged to nearly $110 per barrel, reflecting concerns over prolonged supply disruptions amid escalating geopolitical tensions.

Gold prices in Pakistan declined sharply on Thursday, tracking losses in the international market, where bullion came under pressure due to a stronger US dollar and rising oil prices. In the local market, the price of gold per tola fell by Rs7,100 to settle at Rs486,962, according to the All-Pakistan Gems and Jewellers Sarafa Association. Similarly, the price of 10 grams of gold dropped by Rs6,087 to Rs417,491.

The decline comes a day after gold hit Rs494,062 per tola, gaining Rs15,300 in a single session.

Internationally, gold prices fell by $71 to $4,642 per ounce, including a $20 premium. Spot gold was down 2% at $4,660.95 per ounce by 11:22 am EDT, after touching a two-week high, while US gold futures slipped 2.6% to $4,686.80.

Market sentiment shifted after US President Trump signalled continued military actions against Iran, pushing oil prices higher and strengthening the dollar. The developments raised concerns about inflation and reinforced expectations of higher interest rates, which typically weigh on non-yielding assets like gold.

Silver prices in Pakistan also recorded a notable decline, falling by Rs350 to Rs7,634 per tola, in line with a nearly 4% drop in international silver rates.

Globally, additional pressure came from reports of a sharp decline in Turkey's gold reserves and changing demand dynamics, including Indian dealers charging premiums for the first time in two months. The dollar rose sharply, making greenback-priced bullion less ?affordable to other currency holders.

"The market is very focused on Trump's comments, which so far offer little sign of a quick resolution to the energy situation," said David Meger, Director of Metals Trading at High Ridge Futures.