SBP Buys $5.9 Billion From Interbank Market in 9 Months

The State Bank of Pakistan (SBP) purchased US$ 223 million worth of foreign currency (USD) from the interbank FX market in February 2025. This brings the total intervention to US$ 5.9 billion in the last 9 months i.e. June 2024 to February 2025. Pertinently, SBP’s dollar purchases helped stabilize the exchange rate, encouraging exporters to sell their proceeds. However, the country’s massive debt servicing obligations will absorb most inflows. Pakistan is projected to receive $38 billion in remittances during the current fiscal year, which will also help the central bank have a bit more grasp on the interbank dollar market. Besides remittances and the recently unlocked funds from the International Monetary Fund, the central bank expects additional financing from the World Bank, and a $14 billion rollover of external loans.