Pakistan’s exchange companies sold $248.7 million to banks in August 2026, compared with $174.9 million in the same month last year, according to data from the Exchange Companies Association of Pakistan (ECAP).
The August performance followed a weaker July. Exchange companies sold $230.7 million to banks that month, down from $290.6 million in July 2025.
Across the first two months of the 2026-27 fiscal year, exchange companies sold a combined $479.5 million to banks, compared with $465.5 million during the corresponding period a year earlier.
Why the dollar sales matter
Exchange companies form part of Pakistan’s formal foreign-exchange system. Foreign currency collected through their operations can ultimately enter the banking system, making their dollar sales one indicator of formal foreign-currency inflows.
The August figures therefore point to a stronger month for exchange-company dollar supplies compared with the same period last year.
But the two-month picture is more modest.
Sales during July and August combined increased by about 3% from the corresponding period last year, based on the reported figures. July’s year-on-year decline offset much of August’s increase.
That distinction is important because a strong single month does not necessarily establish a sustained trend.
Regional risks remain
The figures come as Pakistan closely watches economic conditions in the Gulf, where a large number of Pakistani workers live and work.
ECAP Chairman Malik Bostan said political disruptions in Kashmir had also affected foreign-currency inflows during July and August. He said conditions were beginning to normalise and argued that inflows could have been higher without those disruptions.
Those comments represent ECAP’s assessment rather than an independently established estimate.
Pakistan’s broader foreign-exchange position is also supported by workers’ remittances. Separate State Bank data showed remittances reaching $3.66 billion in August, as Pakistan Report reported earlier.
What happens next
The next few months will show whether the stronger August performance represents a continuing improvement or primarily a rebound from earlier disruption.
For Pakistan, sustained formal foreign-currency inflows can help support external-account stability and the availability of dollars in the banking system.
However, exchange-company sales are only one part of that picture. Remittances, exports, imports, debt payments, foreign investment and official financing all influence Pakistan’s overall external position.