Roshan Digital Account Inflows Jump to $125 Million in February
According to the State Bank of Pakistan, foreign money inflows through Roshan Digital Accounts (RDAs) totaled $5.811 billion by the end of February 2023. (SBP).
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The deposits covered by RDAs had inflows of $125 million in February, up $15 million from the inflows of $110 million recorded in January, according to official figures issued by the central bank. The rise represents a MoM-based increase in inflows of 15%.
For the first time in eight months, the monthly inflows through the RDAs grew on a month-over-month (MoM) basis in February. 536,676 RDAs have been opened since they were introduced, according to the official statistics, which represents a monthly growth of 2.2 percent.
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Between September 2020 and February 2023, $3.704 billion in investments were done using the RDA inflows. Islamic NPCs have gathered $1,822 million so far, whereas traditional Naya Pakistan Certificates (NPCs) have gotten $1,833 million. The RDAs also made a $49 million deposit at the Pakistan Stock Exchange.
It is important to note that the government announced an increase in rates of interest on Naya Pakistan and Islamic Naya Pakistan Certificates in January. The rise applied to all maturities of US dollar- and GBP-denominated Certificates.
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The rates of interest on certificates denominated in US dollars and GBP saw increases of up to 150 basis points and 125 basis points, respectively. Rates of return on Euro-denominated NPCs with terms of three months, six months, and twelve months were revised downward, while rates of return on NPCs with terms of three years and five years rose.
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