Friday, March 31, 2023

Roshan Digital Account inflows rose to $3.382 bn in 17 months

The State Bank of Pakistan (SBP) announced on Monday that cumulative inflows through the Roshan Digital Account (RDA) from foreign Pakistanis had risen to $3.382 billion in the last 17 months, a record high.

The central bank said that Pakistani ex-pats transferred $222 million home through the RDA in January 2022 and that the greatest recorded RDA inflows occurred in June 2021, with $310 million.

A total of 20,148 new accounts were registered by Pakistani ex-pats from 175 different countries, bringing the total number of accounts opened in the last 17 months to 342,611.

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RDA (Roshan Digital Account) inflows have surpassed the $3 billion barriers, according to earlier reports from the central bank.

“Roshan Digital Account has reached three additional milestones. “Over 300,000 accounts have been created, deposits have exceeded $3 billion, and investments in Naya Pakistan Certificates have surpassed $2 billion in just 16 months,” the SBP announced via Twitter on January 7.

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The State Bank of Pakistan (SBP) said last week that the foreign exchange reserves held by the central bank had decreased by 2.86 percent for the week ending January 28. The SBP’s foreign currency reserves were recorded at $15,727.6 million, representing a decrease of $463 million from the previous day’s total of $16,190.1 million.

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