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- SBP forex reserves rise $16m to $21 . 47b
SBP's forex reserves rose $16 million to $21.47 billion in the week ended October 9, 2026. Total liquid foreign currency reserves, including those held by commercial banks, reached $26.863 billion. The Pakistani rupee gained 0.01% against the dollar to close at 276.92 in the interbank market. Gold prices in Pakistan held at Rs437,836 per tola, while international spot gold rose 1.1% to $4,149 per ounce as the dollar weakened and Treasury yields fell. Domestic silver prices dropped Rs212 to Rs6,148 per tola.
- Interest rates : Reserve Bank may have to go higher if oil prices continue upward spiral
The Reserve Bank of Australia (RBA) is concerned that inflation will stay elevated because of the fallout from the war with Iran, which could force it to raise rates further even though this may increase unemployment as the economy slows. Oil finished the week at US$106 a barrel and shows no sign of falling, while the RBA's forecasts assumed prices as much as US$20 lower, and diesel is also much higher. Prices for other commodities have climbed too, with wheat up 37%, soybeans up 24%, sugar up 42% and cocoa more than doubled this year. After unemployment rose to a high of 4.7% in September, markets sharply cut the chance of a rate rise to 4.85% at the November meeting, from about one in three to closer to one in five. Governor Michele Bullock and researcher Anthony Brassil warned that high inflation erodes purchasing power and hits households with limited financial buffers hardest.
- Interest rates : Reserve Bank may have to go higher if oil prices continue upward spiral
The Reserve Bank of Australia is growing concerned that oil, which closed last week at $US106 a barrel with no sign of falling as the Middle East war broadens, could keep inflation elevated and force further rate rises even at the cost of higher unemployment. Inflation has been above the bank's 2-3 per cent target in three of the past four years, while wheat is up 37 per cent, sugar 42 per cent and soybeans 24 per cent this year. After unemployment rose to a five-year high of 4.7 per cent in September, markets sharply cut expectations of a rate rise to 4.85 per cent at the November meeting. Governor Michele Bullock and Anthony Brassil noted that a supply shock means monetary policy cannot eliminate the real economic loss, only influence how it is distributed over time. With the cash rate at a 15-year high of 4.6 per cent, low-income earners, who are unlikely to hold mortgages, are hit hardest by inflation and rent increases.
- India Forex Reserves Fall $8 . 6 Billion To $726 Billion As RBI Defends Rupee
India's forex reserves fell $8.6 billion to $726 billion in the week ended October 9, marking their fifth straight weekly decline as the Reserve Bank of India (RBI) intervened to stabilise the rupee. The cumulative fall over five weeks is about $59.7 billion, after reserves hit a record $785.71 billion on September 4. The drop reflects high crude oil prices, foreign portfolio outflows and persistent dollar demand. The rupee closed at 94.96 per dollar on Friday, up 1.9% for the week, after nearly hitting a record low of 96.96 earlier in October. The RBI has rolled out measures including a dedicated dollar window for state oil marketers, tighter forex derivatives rules and a risk reserve requirement, though these cannot eliminate underlying dollar demand.
- India forex reserves down by USD 8 . 58 billion to USD 726 . 03 billion in week ended Oct 9
- India forex reserves down by USD 8 . 58 billion to USD 726 . 03 billion in week ended Oct 9
India's forex reserves fell by USD 8.578 billion to USD 726.027 billion in the week ended October 9, according to RBI data released on Friday. Foreign currency assets, the largest component, dropped USD 7.142 billion to USD 597.605 billion, while gold reserves fell USD 1.319 billion to USD 105.094 billion. Special drawing rights with the IMF declined USD 109 million to USD 18.548 billion, whereas India's reserve position with the IMF rose USD 10 million to USD 4.780 billion. Despite the weekly drop, total reserves remained USD 34.920 billion higher than at the end of March 2026 and USD 28.244 billion higher year on year. Compared with the end of March 2026, foreign currency assets were up USD 45.323 billion while gold was down USD 10.301 billion.
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Meta Platforms (NASDAQ:META) will report earnings this Wednesday after the market closes. Last quarter, revenue reached $60.8 billion, up 28% year on year and above analysts' expectations, though revenue guidance for next quarter slightly missed forecasts; daily active users hit 3.6 billion, up 3.4%. The market expects revenue growth of 23.6% this quarter, slowing from 26.2% a year earlier, and analysts have generally reconfirmed their estimates over the past 30 days. Over the last month, consumer internet stocks have gained 1.3% on average, while Meta is down 4.8%.
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