As of May 9, 2025, Pakistan’s total foreign exchange reserves reached $15.61 billion, according to the State Bank of Pakistan (SBP). The SBP’s reserves increased by $71 million to $10.4 billion, while commercial banks held $5.21 billion. The SBP stated, “During the week ended on 09-May-2025, SBP reserves rose to $10,403.1 million.”
This growth follows a steady upward trend, with reserves climbing from $11 billion in October 2024, driven by inflows from the International Monetary Fund (IMF) and remittances. The reserves now cover approximately 1.69 months of imports, significantly improving from June 2023’s one-month cover.
Gold and Silver Prices Decline
On May 15, 2025, the All Pakistan Sarafa Gems and Jewellers Association reported a notable drop in gold prices. The price of 24-karat gold per tola fell by Rs.6,700 to Rs.335,200, down from Rs.341,900. Similarly, 10 grams of 24-karat gold decreased by Rs . 5,745 to Rs . 287,379, and 22-karat gold dropped by Rs . 5,266 to Rs . 263,440.
Silver prices also declined, with per tola silver falling by Rs.105 to Rs.3,377 and 10 grams of silver decreasing by Rs.90 to Rs.2,985. Internationally, gold prices dropped by $67 to $3,168 per ounce, and silver fell by $1.05 to $31.95.
Read: Pakistan’s Federal Debt Surges 12.7% to Rs73.69 Trillion, SBP Reports
The rise in forex reserves strengthens Pakistan’s economic stability, supporting the Pakistani rupee and reducing reliance on external borrowing. However, fluctuating gold and silver prices, tied to global market trends and the U.S. dollar’s value, may impact local investors and jewellers.
The SBP continues to monitor reserves and implement policies to sustain this growth. Projections estimate that reserves could reach $13 billion by June 2025.
