Pakistan's forex reserves hit a record $21.5 billion as exports rise 11% in Q1 FY27
The finance ministry's July–September scorecard shows record SBP reserves, higher remittances and IT exports — but it leaves out imports and inflation.
Pakistan's foreign exchange reserves held by the State Bank of Pakistan (SBP) reached a record $21.5 billion at the end of the first quarter of fiscal year 2026–27, according to the Ministry of Finance's Macro, Reform and Investment Scorecard for July–September 2026, as reported by Profit on 27 October.
That is 52% higher than a year earlier. Total liquid reserves stood at $26.8 billion, enough to cover more than three months of imports, compared with about 2.2 months a year ago.
The numbers at a glance
| Indicator (Q1 FY27) | Figure | Change from a year earlier |
|---|---|---|
| SBP forex reserves | $21.5 billion | +52% |
| Total liquid reserves | $26.8 billion | — |
| Exports | $11.2 billion | +11% |
| IT and tech exports | $1.25 billion | +18% |
| Workers' remittances | $10.9 billion | +14% |
| Foreign direct investment | $720 million | +20% |
| Current account deficit | $874 million | was $755 million |
Net foreign investment inflows were $3.65 billion, compared with a net outflow of $33 million in the same quarter last year.
What it means for businesses
A larger reserve buffer generally gives the country more room to pay for imports and repay debt, which can help keep the exchange rate steadier. For importers, wholesalers and retailers who buy imported stock — from cooking oil to mobile phones — a steadier rupee makes it easier to plan prices.
The 18% rise in IT and technology exports is also good news for freelancers and software companies, which have become one of the faster-growing sources of foreign earnings.
What the scorecard does not show
The scorecard leaves out several indicators that matter to households and shopkeepers, including imports, inflation, per-capita income and poverty. The current account deficit also widened slightly, to $874 million from $755 million. So the reserves figure is one important sign, not the full picture of the economy.
Plan your prices
If your business buys or sells in dollars, keep an eye on the rate before placing large orders. You can check conversions quickly with a free currency converter, and set your selling price with a margin calculator so a change in costs does not eat into your profit.
Sources
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