In a statement issued on Thursday, the central bank said the IMF executive board, in its meeting on December 8, 2025, completed the second review of the EFF and approved a disbursement of SDR 760 million for Pakistan. The board also cleared the release of the first tranche of SDR 154 million under the RSF, aimed at supporting Pakistan’s climate resilience and long-term macroeconomic stability.
Subsequently, the SBP received a total of SDR 914 million, equivalent to roughly $1.2 billion, on December 10, 2025. The inflows will be reflected in the central bank’s foreign exchange reserves data for the week ending December 12, 2025.
Separately, the SBP reported that Pakistan’s total liquid foreign reserves stood at $19.61 billion as of December 5, 2025. Of this, the central bank held $14.59 billion, while commercial banks’ net reserves amounted to $5.03 billion.
During the week ended December 5, the SBP reserves recorded a marginal increase of $12 million. The latest IMF inflows, however, are expected to deliver a material jump in the reserves to $20.81 billion for the subsequent reporting week.
Furthermore, the Pakistani rupee posted a slight uptick against the US dollar in the inter-bank market on Thursday, closing at 280.36, an appreciation of one paisa. A day earlier, the currency had closed at 280.37.
Meanwhile, gold prices in Pakistan increased, mirroring a strong global rally after the US Federal Reserve’s latest rate cut weakened the dollar and lifted demand for precious metals. According to the All-Pakistan Gems and Jewellers Sarafa Association, gold rose by Rs500 per tola to Rs443,562, while the 10-gram rate increased by Rs428 to Rs380,282. A day earlier, the per-tola price had jumped by Rs1,200.
Internationally, spot gold climbed 1.2% to $4,275.39 per ounce, its highest level since October 21, while US gold futures advanced 1.9% to $4,303.90. The Fed’s 25-basis-point rate cut boosted market sentiment, with investors now awaiting US non-farm payroll data due on December 16.
Silver outpaced gold, reaching an all-time high. Domestic silver prices rose by Rs85 to Rs6,452 per tola, while global prices hit a record $63.93 per ounce. Analysts expect continued volatility but strong support for precious metals.