The State Bank of Pakistan purchased more than $6 billion from the local foreign exchange market over a 12-month period, according to official data released by the central bank.

Research by Topline Securities shows that the SBP consistently remained on the buying side of the dollar throughout the year. In November 2025 alone, the central bank purchased around $600 million from the interbank market, compared with nearly $1 billion in October 2025.

Overall, the SBP’s net dollar purchases between December 2024 and November 2025 amounted to approximately $6.4 billion.

Monthly figures indicate that the central bank bought $722 million in July 2024, followed by $569 million in August and $946 million in September. A sharp accumulation was recorded in October and November 2024, when foreign exchange reserves increased by a combined $2.17 billion. After a relatively subdued phase, reserves again strengthened between September and November 2025, rising by about $2.67 billion during the three months.

As of February 13, 2026, the SBP’s foreign exchange reserves have climbed to more than $16.1 billion, reflecting sustained inflows and continued market intervention by the central bank.