SBP buys $10.8bn from domestic FX market in 17 months

The State Bank of Pakistan (SBP) purchased $10.76 billion from domestic foreign exchange (FX) markets between June 2024 and October 2025, as per the latest data released by the central bank. The central bank reports foreign exchange market interventions with a lag of three months. “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,” says SBP. A monthly breakdown of SBP data suggested that it bought the greenback worth $573 million in June 2024, followed by $722 million in July, $569 million in August, $946 million in September, $1.03 billion in October, $1.15 billion in November, $536 million in December, $154 million in January 2025, $223 million in February, $860 million in March and $473 million in April 2025.