Karachi May 27 2025: State Bank of Pakistan purchased USD 5.9 billion from open market during the period from June 2024 to February 2025 with net purchase of USD 223 million in February, according to data released by the central bank.
The data reveals a dip in net FX purchases in January and February, remaining below last year’s monthly averages, before picking up steadily through the year until a decline in December.
It began at USD 573 million in June 2024, rising to USD 722 million in July before slightly decreasing to USD 569 million in August. A significant surge followed in September, reaching USD 946 million, and peaked in October at USD 1,026 million. This trend highlights the SBP’s intensified efforts to strengthen foreign exchange reserves, likely to stabilize the domestic currency and manage external sector dynamics. However, net purchases slowed to USD 536 million in December 2024 and USD 154 million in January 2025 which surge to USD 223 million in February 2025.
Net Fx Intervention is defined as outright and swap purchases of foreign exchange minus outright and swap sales of foreign exchange by the SBP from/to banks in the Interbank foreign exchange market
